When can the exchange of contracts occur in purchase conveyancing in Redland and do I need to be at the lawyers office?

If you are in close proximity to one of the conveyancing solicitors in Redland you are welcome to come in to sign the paperwork. However, the lender approved solicitors we work with provide a countrywide conveyancing service and provide as equally comprehensive 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 just a prerequisite for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Redland)to be in the office available at the end of the phone to exchange contracts.

Are there restrictive covenants that are commonly picked up during conveyancing in Redland?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Redland. 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 am buying a new build flat in Redland. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Redland

Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

I am employed by a busy estate agency in Redland where we have experienced a number of flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Redland conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is 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.

Leasehold Conveyancing in Redland - Sample of Questions you should consider Prior to Purchasing

The best form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is often employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. Its a good idea to find out as much as possible about the company managing the block as they will either make life much simpler or much more difficult. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the communal areas. Ask other tenants if they are happy with them. Finally, be sure you understand the dates that the maintenance charges are due to the managing agents and precisely what it includes. Is the freehold reversion owned collectively by the leaseholders?

We have instructed a Redland conveyancing solicitor for our house purchase (FTB’s) and have spotted in the Ts and Cs that they are not overseen by the FCA. Am I right to be worried or is that the norm with property lawyer?

We can't see why they should be. Most lawyer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who set specific rules in place on monies sitting by them.