My wife and I have lately bought a property in Crick. We have since encountered a number of issues with the property which we consider were missed in the conveyancing searches. What action can we take? What searches should? have been conducted as part of conveyancing in Crick?

The query is vague as what problems have arisen and if they are specific to conveyancing in Crick. Conveyancing searches and due diligence initiated as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a seller answers a document called a Seller’s Property Information Form. answers provided is inaccurate, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Crick.

At what point does exchange of contracts happen for purchase conveyancing in Crick and am I required to attend the lawyers branch?

Where you are in close proximity to one of the conveyancing solicitors in Crick you are invited in to sign documents. That being said, the lender approved solicitors we work with supply countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when communicating with you electronically. The signing of the property agreement is not the critical part. A signed contract is necessary for the solicitor to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Crick)to be in the office at the appropriate time.

How does conveyancing in Crick differ for new build properties?

Most buyers of new build residence in Crick come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because builders in Crick 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 conveyancing solicitors 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 used to new build conveyancing in Crick or who has acted in the same development.

I work for a long established estate agent office in Crick where we see a few flat sales jeopardised due to short leases. I have received conflicting advice from local Crick conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Crick Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Is anyone aware of any major works anticipated that could increase the maintenance charges? The best form of lease structure is a share of the freehold. In this situation the leaseholders have being in charge if their destiny and even though a managing agent is frequently employed where the building is larger than a house conversion, the managing agent retained by the leaseholders.

How and when do I incur the Stamp Duty Land Tax payable for my Crick house purchase?

Your conveyancer should complete a Land Transaction Return Form for you during your Crick conveyancing transaction for signature. On completion your conveyancing practitioner will submit the Land Transaction application to the Tax Authorities and - assuming they have the funds - pay any tax bill payable on your behalf.