Why do I have to pay up front when it comes to conveyancing in East Barnet?

If you are buying a property in East Barnet your solicitor will request that you place them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the total price then this should be asked for shortly ahead of contracts are exchanged. The closing balance that is needed should be transferred a few days prior to the day of completion.

I acquired my home on 3 April and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in East Barnet expressed confidence that it would be registered inside ten days. Are titles in East Barnet particularly slow to register?

There is nothing unique about conveyancing in East Barnet registration formalities. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether there are errors and if the Land registry communicate with any third parties. At present approximately 80% of such applications are fully addressed within 12 days but some can be subject to longer hold-ups. Registration takes place after the purchaser has moved in to the premises so an expedited registration is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your lawyers must speak with the land registry and explain the circumstances.

I have been on the look out for a leasehold apartment up to £245,000 and found one close by in East Barnet I like with amenity areas and railway links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in East Barnet in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.

In surfing the world wide web for the term on line conveyancing in East Barnet it brings up numerous conveyancerslocally. How do I determine which is the right solicitor for me?

The preferential method of seeking the right conveyancer is via personal testimonial, so seek the opinion of friends and family who have acquired a property in East Barnet or a reputable estate agent or financial adviser. Charges for conveyancing in East Barnet differ, so it's advisable to secure a minimum of three costs illustrations from different law firms. Make sure that you clarify that the fees are fixed.

Why is it not possible to complete our conveyancing in East Barnet on May bank holiday?

This is due to the fact that on completion the money needs to be transferred electronically between the banks of the purchaser and seller's property lawyer and currently this can only take place on a business day. So you can't complete on a weekend either.