When does exchange of contracts happen for residential conveyancing in Purton and am I required to be at the conveyancers office?

Where you are in close proximity to one of the conveyancing solicitors in Purton you are invited in to sign the paperwork. However, the lender approved solicitors we recommend supply a countrywide conveyancing service and provide just as diligent and professional a job for you when communicating with you digitally. The signing of the property agreement is not when everything is set in stone. Signing on the dotted line simply enables the conveyancer to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Purton)to be in the office available at the end of the phone to exchange contracts.

What can a local search tell me about the house my wife and I buying in Purton?

Purton conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations such as PSG The local search plays an important part in many a Purton conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Purton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Purton

Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.

I decided to have a survey completed on a house in Purton prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders may not grant a mortgage on this type of premises.

It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Purton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Purton to see if the conveyancing will be more expensive.

Can you provide any top tips for leasehold conveyancing in Purton with the intention of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Purton can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
You believe that you know the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to ongoing. Some Purton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.

I inherited a 1 bedroom flat in Purton, conveyancing having been completed 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Purton with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease finishes on 21st October 2082

You have 57 years unexpired we estimate the premium for your lease extension to be between £26,600 and £30,800 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.