When can the exchange of contracts take place for sale conveyancing in Havant and am I required to be at the conveyancers branch?
Where you are round the corner to one of the conveyancing solicitors in Havant you are welcome to attend to sign contracts. That being said, the lender approved solicitors we work with supply countrywide coverage for conveyancing and give as equally detailed and professional a job for you when communicating with you digitally. The signing of the contract is not the important part. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Havant)to be in the office at the appropriate time.
Are there restrictive covenants that are commonly identified as part of conveyancing in Havant?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Havant. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Havant differ for newly converted properties?
Most buyers of new build property in Havant approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Havant tend to purchase 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 conveyancers 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 Havant or who has acted in the same development.
Am I better off to instruct a Havant conveyancing lawyer based in the vicinity that I am purchasing? I have an old university friend who can conduct the legal work but they are based 300kilometers drive away.
The primary upside of using a high street Havant conveyancing practice is that you can attend the office to execute documents, present your identification documents and apply pressure on them where appropriate. They will also have local insight which is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that should outweigh using an unfamiliar Havant conveyancing solicitor just because they are based in the area.
What are the frequently found deficiencies that you come across in leases for Havant properties?
There is nothing unique about leasehold conveyancing in Havant. All leases are unique and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the building
You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Barnsley Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I bought a split level flat in Havant, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Havant with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2072
With just 53 years unexpired the likely cost is going to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.