The owners have very assertive sellers who has recommended a preliminary contract with a payment 6,000. Are such contracts promoted for South East London conveyancing transactions?
There are two primary downsides with entering into any lock out contract (sometimes referred to as a shut-out contract) is that it diverts attention away from making progress with the conveyancing process, so in the absence of it needing limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not promoted by South East London conveyancing practitioners as a result. A supplemental issue is the extent of the remedies available - a jilted purchaser is not likely to win injunctive relief to stop the seller selling to another buyer, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in rare situations, the additional payment of penalties.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. South East London is the location of the property. Can you shed any light on this issue?
Flying freeholds in South East London are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South East London you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South East London may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My father has suggested that I instruct his conveyancers in South East London. Should I find my own conveyancer?
No doubt the ideal way to choose a conveyancing solicitor is to get recommendations from friends or family who have previously instructed the firm you're are thinking of instructing.
I've recently bought a leasehold flat in South East London. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in South East London. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a South East London residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The number of years remaining on the existing lease(s) was 73.26 years.
My fiance is purchasing a garden flat in South East London. He was given a quote by the property lawyer recommended by the selling agents and it came to £1385 . It was 7 years ago since I sold and bought a property and it cost was £600. Have charges really escalated to that extent?
You should contact two or three local South East London conveyancing firms requesting estimates. You should base your decision not only on cost, but on promptness and on how comprehensive the response was.