Would the conveyancing lawyers listed on your site execute auction conveyancing in King's Cross?
We know of a number of auction practitioners we can put you in touch with those who can conduct auction conveyancing. King's Cross is just one of the many locations where our lawyers have offices.
Will my lawyer be raising questions regarding flooding as part of the conveyancing in King's Cross.
Flooding is a growing risk for conveyancers dealing with homes in King's Cross. There are those who purchase a property in King's Cross, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in King's Cross. The conventional set of property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the vendor to find out whether the premises has historically flooded. If flooding has previously occurred which is not revealed by the owner, then a buyer may bring a compensation claim stemming from an misleading answer. The buyer’s lawyers will also commission an enviro search. This will disclose if there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.
How does conveyancing in King's Cross differ for newly converted properties?
Most buyers of new build or newly converted property in King's Cross come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in King's Cross tend to 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 property lawyers 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 King's Cross or who has acted in the same development.
Should I appoint a King's Cross conveyancing solicitor based in the vicinity that I am hoping to buy? I have an old university friend who can handle the legal formalities but her office is a couple of hundredkilometers drive away.
The primary upside of using a high street King's Cross conveyancing practice is that you can pop in to execute documents, present your ID and pester them if necessary. Having local King's Cross know how is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were impressed that must outweigh using an unfamiliar King's Cross conveyancing solicitor just because they are King's Cross based.
I am a negotiator for a busy estate agent office in King's Cross where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local King's Cross conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
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.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in King's Cross. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a King's Cross residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term was 66.8 years.