At what point will exchange of contracts take place for sale conveyancing in Chislehurst and do I need to be at the conveyancers branch?
If you are local to our conveyancing solicitors in Chislehurst you are welcome to attend to sign the paperwork. However, the lender approved solicitors we work with provide a nationwide conveyancing service and provide as equally diligent and professional a job for you when communicating with you by post or email. The signing of the contract is not when everything is set in stone. Signing on the dotted line is necessary for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure 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 Chislehurst)to be in the office available at the end of the phone to exchange contracts.
three months have gone by following my purchase conveyancing in Chislehurst concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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.
How does conveyancing in Chislehurst differ for newly converted properties?
Most buyers of new build premises in Chislehurst come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Chislehurst tend to acquire the site, 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 Chislehurst or who has acted in the same development.
I am employed by a busy estate agency in Chislehurst where we see a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Chislehurst conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 buyer.
I own a garden flat in Chislehurst. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Chislehurst conveyancing firm who can help.
An example of a Lease Extension case for a Chislehurst property is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case was in relation to 1 flat. The remaining number of years on the lease was 72 years.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Chislehurst. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Chislehurst are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Chislehurst so you should seriously consider looking for a Chislehurst conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.