What can a local search tell me concerning the house I am purchasing in Chase Cross?

Chase Cross conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Onsearch The local search plays an important part in many a Chase Cross conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.

Have purchased a a semi-detached house in Chase Cross , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Chase Cross conveyancing solicitor works at snail pace, so I want to be certain that my purchase is registered.

As far as conveyancing in Chase Cross is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timescales can adjust depending on the party submitting the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. At present approximately 80% of submission are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Historically registration is effected after the new owner is living at the property therefore an expedited registration is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.

How does conveyancing in Chase Cross differ for newly converted properties?

Most buyers of new build residence in Chase Cross contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Chase Cross typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Chase Cross or who has acted in the same development.

I am looking for a leasehold apartment up to £245,000 and identified one near me in Chase Cross I like with a park and station nearby, however it only has 61 years on the lease. I can't really find anything else in Chase Cross suitable, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.

Can you provide any advice for leasehold conveyancing in Chase Cross from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Chase Cross can be bypassed if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers’ solicitors.
A minority of Chase Cross leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. Many freeholders or Management Companies in Chase Cross levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Chase Cross. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unsettled. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I am the leaseholder of a basement flat in Chase Cross. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the premium.

An example of a Lease Extension decision for a Chase Cross residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The number of years remaining on the existing lease(s) was 57.5 years.