As a FTB what is the most important number one tip you can give me about purchase conveyancing in Bowes Park?
You may not hear this from too many lawyers but conveyancing in Bowes Park and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of opportunity for conflict between you and other parties involved in the ownership transfer. For instance, the seller, property agent and on occasion a lender. Choosing a law firm for your conveyancing in Bowes Park is a critical decision as your conveyancer is your adviser, and is the SOLE person in the transaction whose role it is to act in your best interests and to protect you.
On occasion a potential adversary will try and convince you that you should follow their advice. For instance, the property agent may claim to be assisting by suggesting your conveyancer is wrong. Or your mortgage broker may advise you to do take action that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Do commercial conveyancing searches reveal proposed roadworks that could impact a commercial land in Bowes Park?
Many commercial conveyancing solicitors in Bowes Park will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Bowes Park. The report 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 Bowes Park.
For each commercial conveyancing transaction in Bowes Park it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Bowes Park commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Bowes Park.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bowes Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Bowes Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I work for a reputable estate agent office in Bowes Park where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Bowes Park conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a two-bedroom flat in Bowes Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the sum to be paid.
An example of a Lease Extension decision for a Bowes Park premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The unexpired term was 81.79 years.
Why do I have to supply my property lawyer with a list of items of ID ahead of starting my conveyancing in Bowes Park?
Bowes Park solicitors are required by the Law Society, SRA, HMLR and current Money Laundering Regulations to certify that the have checked the identity of their clients. It is also sometimes a requirement of your lender if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, NI number and date of birth.