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Ready to buy a new home in New Milton? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your New Milton conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in New Milton

I have given 2 months notice to my existing landlord and have to vacate my let out property in New Milton by the end of next month. Conveyancing for my house purchase is underway. How realistic is it to complete in three weeks as I wish to avoid having to move into temporary accommodation?

The normal practice is not to serve notice for your tenancy until you have exchanged. Assuming that you have not already done so, notify to your solicitor and request that they seek the assistance the owners lawyers, try to an acceptable time-line that all parties will aim towards

Will commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in New Milton?

Many commercial conveyancing solicitors in New Milton will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in New Milton. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in New Milton.

For every commercial conveyancing transaction in New Milton it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to New Milton commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in New Milton.

It has been five months since my purchase conveyancing in New Milton completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 residence 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.

We're novice buyers - had an offer accepted, but the estate agent told us that the seller will only go ahead if we use their recommended solicitors as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer used to conveyancing in New Milton

It is unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a motivated purchaser is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your preferred New Milton conveyancing firm - rather thanthe ones that will earn the estate agent a referral fee or hit his conveyancing thresholds set by corporate headquarters.

Do you have any top tips for leasehold conveyancing in New Milton with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in New Milton can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing. A minority of New Milton leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 lawyers. The majority of freeholders or Management Companies in New Milton levy fees for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in New Milton. You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I bought a 1 bedroom flat in New Milton, conveyancing having been completed in 1999. How much will my lease extension cost? Equivalent flats in New Milton with a long lease are worth £206,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2084

With 65 years unexpired the likely cost is going to span between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

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