At what point can the exchange of contracts take place for sale conveyancing in March and am I required to attend the lawyers office?
If you are round the corner to one of the conveyancing solicitors in March you are welcome to come in to sign the paperwork. That being said, the firms we work with provide countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when dealing with you by post or email. The signing of the sale agreement is not when everything is set in stone. A signed contract is necessary for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in March)to be in the office at the appropriate time.
It has been 3 months following my purchase conveyancing in March completed. 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 asset 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.
I am buying a new build flat in March. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in March
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared.
In my capacity as executor for the will of my aunt I am disposing of a house in Cardiff but live in March. My solicitor (approximately 260 kilometers from merequires that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in March to attest and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in March
Can you provide any advice for leasehold conveyancing in March from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in March can be bypassed where you appoint 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. 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 purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to discharge 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 particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled. In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? March leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your conveyancer first. If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a new share certificate is often a lengthy process and frustrates many a March conveyancing transaction. Where a duplicate share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
March Leasehold Conveyancing - A selection of Questions you should ask before buying
Can you inform me if there are any major works on the horizon that will likely increase the maintenance costs? On the whole the outlay for major works tend not to be included within service charges, albeit that some managing agents in March ask leasehold owners to pay into a sinking fund created for the specific intention of building a fund for larger repairs or maintenance. What is the yearly service fee and ground rent?