What should I look out for when converting commercial property for residential purposes?

The acquisition of a commercial property to convert for residential property purposes involves a high level of due diligence. It is extremely important that the commercial property lawyers instructed are well versed in this area of conveyancing.  Important matters such as checking the planning permission, VAT position, and accesses to and from the property need to be carefully checked.

Property legal’s residential conveyancers will then prepare the pre contract packs selling the individual apartments on long leases. We expect the price point of this development will attract interest from the wealthy investors in the Hale, Knutsford, Alderley Edge and Wilmslow areas.

How much will my Conveyancing cost?

If you have not already done so you can get a free, no-obligation Conveyancing Quote direct from one of our conveyancing solicitors who would be happy to assist. Rather than simply send you an automated quote, we would encourage you to either telephone us on 0161 941 7449 direct to our Hale office.

Will there be any hidden costs?

When you obtain a conveyancing quote you can view a detailed breakdown of applicable conveyancing costs. There are no hidden charges but you should remember that additional charges can occur during the course of a conveyancing transaction, for example if an additional document is required on a sale or a specialist conveyancing search on a purchase. We would not know about such things at the beginning of the transaction but if this should occur we will of course advise you first. If you have any questions about the conveyancing quote, please do not hesitate to contact us.

I am selling my home. Do I need a HIP?

HIPs have now been suspended. You are therefore not required to have a HIPs pack when you put your property on the market. The EPC will remain since it is part of European Union legislation. You must therefore commission an EPC when you market your property

I have obtained a Conveyancing Quote and would like to instruct you to act. Can I do this now?

Yes. Once you have obtained a Conveyancing Quote, you can instruct us straight away. Your Conveyancing file will be opened and our Conveyancing Client Care Letter forwarded to your email address.

How long will my Conveyancing take?

The time it will take to complete your Conveyancing transaction will depend on a number of factors, many of which are outside our control. A straight forward conveyancing matter with no complications and agreement from all parties can take as little as 1-2 weeks to complete. A conveyancing transaction involving a chain may take considerably longer. We aim to complete your conveyancing transaction in accordance with your requirements, however, we cannot guarantee that all parties will agree your required timescales and can only be certain of completion dates following Exchange of Contracts.

Is there a difference in registered and unregistered land - does it matter if my property is 'unregistered'

Not all conveyancing firms can handle an unregistered land sale or purchase. Put simply unregistered land is land which has not yet been formally registered at the Land Registry. The main reason land remains 'unregistered' is that the property hasn't been sold/mortgaged. Registration of all land has been compulsory in England and Wales since 1990. The Land Registry states that about 65% of all land in England and Wales is now registered although different sources suggest a higher proportion. Whichever figure is correct a substantial proportion of property, particularly outside London, remains unregistered.

When should I instruct a Conveyancing Solicitor?

We would advise you to instruct a conveyancing solicitor as soon as you have agreed the sale or purchase of your property. Please note that at Property Legal, we have both property Solicitors and Licensed Conveyancers. If you are selling you should instruct our Conveyancers or Solicitors prior to putting the property on the market and if buying, instruct your Conveyancers or Solicitors before you make an offer as the Estate Agents will want your conveyancing solicitor or conveyancers details when your offer is accepted.

What questions should I ask my Conveyancing solicitor?

At the outset of your conveyancing it is important that you explain your own personal situation and exactly what you want. You should explain anything that may have an influence on your conveyancing. You will need to inform your conveyancing solicitor about finance and whether you will be applying for a mortgage. Timescales will also be important. Property Legal have developed an enviable reputation in the conveyancing market for progressing property transactions quickly so please let your solicitor or conveyancer know of your requirements.

Can you guarantee me a quick completion?

Property Legal will always try to complete your property sale/purchase as quickly as possible but there are many factors which affect the speed of the transaction. A quick completion really depends on the quality of the solicitors acting for the buyer/seller and whether the buyer has their mortgage offer. If the property is part of a chain, other parties may still be awaiting their mortgage offer. These complications can delay a transaction. Property Legal have earned an enviable reputation for regularly chasing the other parties and driving the transaction forward.

What happens at exchange of contracts?

After the contracts for the sale and purchase have been signed and both sets of solicitors are happy to proceed, we telephone the buyers/sellers conveyancing solicitors or property lawyers and exchange contracts. This is done using a specific formula under Law Society Guidelines and all solicitors exchange contracts in this way. Once contracts have been exchanged, the transaction is legally binding on both parties.

Do I need to be with the conveyancing solicitor at exchange of contracts?

No. We do seek your consent before exchange of contracts, but we do not need you to be present at the office.

Do I have to pay a deposit on exchange?

The buyer will usually have to pay a deposit at the same time as contracts are exchanged. However, there is no absolute requirement that a deposit is paid. In paying a deposit the buyer is giving the seller a guarantee that they will complete on the sale. If the buyer does not complete, the seller will usually be able to keep the deposit. In many sales the deposit will represent 10% of the sale price – however, this is always open to negotiation. Your solicitor or conveyance at Property Legal will request the deposit in advance of exchange. The deposit will then be paid by a cheque drawn from Property Legal’s client account. This provides a guarantee that the payment will actually clear. Payment is made to the seller’s conveyancer.

How long do you normally have between exchange and completion?

It is possible to exchange and complete your conveyance on the same day or have a gap between exchange and completion. Some clients prefer to exchange and then complete 28 days later. Your solicitor or conveyance at Property Legal will discuss timescales with you and ensure that exchange and completion meet your preferred timescales.

Can I have access to the property prior to completion?

If the property is empty the seller may well allow access to the property before completion . The usual reason is that there is essential work which needs to be carried out. If access is required please notify us as soon as possible so that a request can be made to the Sellers' property solicitors. If this is to be agreed (and more often than not it is refused) access is normally permitted provided exchange of contracts has taken place, paid a deposit and signed a key undertaking. For more information on key undertakings as well as a copy of a key undertaking please contact us.

The key undertaking can come in a number of formats but it normally provides that you will not take possession of the property, that you will be allowed to carry out works which are referred to in the key Undertaking and that you will become responsible for any services which may be used whilst you have access to the property.

What happens when we complete the transaction?

Completion occurs when the Buyer’s solicitor transfers the funds over to the Seller’s solicitor and the seller’s solicitor confirms receipt of these funds.

Once I complete my purchase - when will I get the deeds to my property?

You will recieve your deeds following registration of your ownership at HM Land Registry which takes a few weeks.  The Land Registry does state that it will aim to complete all registrations within a period of 5 weeks. The time frame can fluctuate though depending on how busy the individual Land Registry is. Title to land is now electronically recorded so you will receive a print out from the Land Registry evidencing registration in your name rather than a physical bundle of deeds.

When do I pay the estate agent?

Unless you have a prior alternative arrangement with your estate agent that you have told us about, Property Legal will pay their fees on your behalf out of the net sale proceeds of your property.

What are ‘disbursements’?

These are third party fees and have nothing to do with the conveyancing quote itself. All firms of solicitors will have the same charges in relation to the disbursements.. They include Land Registry fees, local search fees and banking fees. Local search fees (payable when you purchase property – or if there is no HIP or the searches are out of date) vary depending on the local authority’s price structure.

Will I always be able to get hold of my Conveyancing Solicitor?

At Property Legal, we provide clients with direct telephone numbers so that we can be contacted during the daytime. If we are in a meeting or on the telephone, we will call you as soon as we are available that same day.

Do Property Legal act for people all over the United Kingdom?

Property Legal’s residential conveyancing team aim to run a paperless office and therefore communicate with other solicitors and clients via the use of email as much as possible. The advantage of this, is that not only does it dramatically reduce timescales, it allows the residential conveyancing team to act nationally. Whilst the residential conveyancing team act nationally, Property Legal pride themselves on their local connections. A large majority of the residential conveyancing is carried out by Property Legal’s residential conveyancers in the following locations:

• Knutsford
• Timperley
• Hale
• Hale Barns
• Didsbury
• Chorlton
• Wythenshawe
• Sale
• Longsight
• Wilmslow
• Alderley Edge
• Stockport