When does exchange of contracts take place for residential conveyancing in Callington and am I required to attend the solicitors office?

If you are in close proximity to one of the conveyancing solicitors in Callington you are invited in to sign the paperwork. That being said, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give just as diligent and professional a job for you when communicating with you by post or email. The signing of the property agreement is not the point of no return. A signed contract is necessary for the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Callington)to be in the office available at the end of the phone to exchange contracts.

Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Callington so that I can pop in to their offices if necessary.

These days conveyancing panel lawyers for mortgage companies undertake their communications through Royal Mail, internet or over the phone. This enables them to carry out the conveyancing transaction regardless of where you live in the country. Nevertheless you can check if you can still book an appointment to visit conveyancing lawyer if you prefer.

It has been 3 months since my purchase conveyancing in Callington concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

My step-father has recommend that I instruct his conveyancers in Callington. Should I use them?

No doubt the best way to choose a conveyancing lawyer is to seek referrals from friends or family who have experience in using the conveyancer that you are contemplating using.

I am employed by a busy estate agency in Callington where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Callington conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Callington Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing

Where a Callington lease has no more than 80 years it will impact the marketability of the flat. Check with your bank that they are happy with residual term of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you would be required to have owned the premises for 24 months before you are eligible to extend the lease. Most Callington leasehold flats will have a service charge for the upkeep of the building invoiced by the management company. If you purchase the property you will have to meet this contribution, usually quarterly throughout the year. This may vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent to be met yearly, ordinarily this is not a significant amount, say approximately £25-£75 but you need to check it because occasionally it could be many hundreds of pounds. Does the lease include onerous restrictions?