When can the exchange of contracts take place for sale conveyancing in Sevenoaks and do I need to attend the lawyers branch?

Where you are in close proximity to one of the conveyancing solicitors in Sevenoaks you are invited in to sign contracts. That being said, the lender approved solicitors we work with provide countrywide coverage for conveyancing and give just as diligent and professional a job for you when communicating with you digitally. The signing of the property agreement is not the critical part. Signing on the dotted line simply enables the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Sevenoaks)to be in the office at the appropriate time.

What will a local search reveal concerning the house my wife and I buying in Sevenoaks?

Sevenoaks conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search plays an important role in many a Sevenoaks conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.

About to purchase a new build apartment in Sevenoaks. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Sevenoaks

Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

My step-father has recommend that I use his conveyancers in Sevenoaks. Do I follow his recommendation?

No doubt the ideal way to choose a conveyancing solicitor is to get feedback from friends or relatives who have previously instructed the solicitor you're considering.

I am tempted by the attractive purchase price for a two apartments in Sevenoaks which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Sevenoaks is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Sevenoaks conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I inherited a studio flat in Sevenoaks, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Sevenoaks with over 90 years remaining are worth £180,000. The ground rent is £65 yearly. The lease expires on 21st October 2084

With 59 years remaining on your lease we estimate the price of your lease extension to span between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.