As a first time buyer what is the most important advice you can impart regarding purchase conveyancing in Horley?

You may not hear this from too many lawyers but conveyancing in Horley or throughout England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is plenty of opportunity for conflict between you and others involved in the home moving process. E.g., the vendor, estate agent and even potentially your mortgage company. Selecting a lawyer for your conveyancing in Horley an important selection as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to protect your legal interests and to keep you safe.

On occasion a third party with a vested interest may try and convince you that it is in your interests to do things their way. For instance, the selling agent may claim to be helping by claiming that your conveyancer is slow. Or your financial adviser may advise you to do something that is contrary to your conveyancers recommendation. You should always trust your lawyer above all other parties in the conveyancing process.

How does conveyancing in Horley differ for newly converted properties?

Most buyers of new build residence in Horley come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Horley typically purchase the land, 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 Horley or who has acted in the same development.

I have been on the look out for a flat up to £245,000 and identified one near me in Horley I like with a park and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Horley suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you require a home loan the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.

I am using a search engine for the term conveyancing in Horley it shows results of numerous solicitorsin the area. With so much choice what is the best way to find the right conveyancer for purchase transaction?

The preferential method of choosing a suitable conveyancer is via personal referral, so seek the guidance of colleagues and family who have bought a property in Horley or the reputable estate agent or mortgage broker. Fees for conveyancing in Horley vary, so it's sensible to secure a minimum of three costs illustrations from varying types of solicitors. Dont forget to clarify that the fees are fixed.

I work for a busy estate agent office in Horley where we have experienced a few leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Horley conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is 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 purchaser.

Horley Leasehold Conveyancing - A selection of Questions you should consider Prior to buying

This information is helpful as a) areas could result in problems for the block as the common areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have full disclosure It would be a good idea to enquire if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Horley. If you like the flatin Horley yet your dog is not allowed to live with you then you will be presented with a difficult determination. What prohibitions exist in the Horley Lease?