Completed the sale of my flat in Okehampton last May yet the purchaser is e-mailing every few hours to moan that his conveyancer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
After completion of your sale your solicitor is obliged to forward the transfer documentation and all additional paperwork to the buyer’s solicitors. Where appropriate, your solicitor must also confirm that the home loan has been repaid to the buyers conveyancers. There is unlikely to be post completion formalities unique to conveyancing in Okehampton.
Do I need to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Okehampton so that I can attend their offices if required.
As opposed to 12 years ago, the vast majority lenders no longer need their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to supply identification documents and there are still distinct advantages to instructing a locally based practitioner, in your situation a conveyancing solicitor in Okehampton.
Me and my brother own a terraced Victorian property in Okehampton. Conveyancing practitioner acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Yorkshire Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Okehampton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who carried out the work.
How does conveyancing in Okehampton differ for new build properties?
Most buyers of new build residence in Okehampton come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Okehampton typically acquire the real estate, 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 accustomed to new build conveyancing in Okehampton or who has acted in the same development.
I have recently realised that I have 72 years left on my flat in Okehampton. I need to extend my lease but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases a specialist should be helpful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Okehampton.
Leasehold Conveyancing in Okehampton - Examples of Queries Prior to buying
What prohibitions are contained in the Okehampton Lease? Make sure you investigate if the the lease includes any unreasonable restrictions in the lease. For example it is fairly common in Okehampton leases that pets are not allowed in certain buildings in Okehampton. If you love the flatin Okehampton however your dog can’t live with you then you will be presented with a difficult determination. The best form of lease arrangement is if the freehold interest is owned by the leaseholders. In this arrangement the tenants enjoy control and even though a managing agent is usually retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.