Owning your own home

i'll sign you up for next month's keys in a goldfish-bowl + bookclub now then shall i?

The masked affair?
I'm already at those ones.

yeah i think i lost my watch at the last one.

don't ask!

Our neighbors will be selling up soon and retiring to Devon.

The sexeh times ones?

West Norwood is the only affordable bit I liked. Catford felt like it had a decade to go before it got nice.

Sadly not. The ones with the tragically drug addicted son who has been known to steal the silverware.

Possibly one for @danstuff and other leasehold type people

The buyer's solicitor is asking our solicitor to draw up a section 42 notice that we will serve so that the lease can be extended by the buyer on completion, rather than having to wait a year or so for the privilege to do so.

It strikes me as odd that they would ask (well, insist) our solicitor to do it. Other than trying to duck the cost of it or move that cost on to us.

Is there a good reason for them to have behaved in this way?

Also: fucking flats. Fucking fucking flats.

I suspect the estate agent's view is less of a backup and more find another buyer that will be a lot less work for me. If I get another offer I think they'd push me hard to accept it.

I'm undecided at the moment. There aren't any indicators that the chain will fall through and I don't want to be a twat but the uncertainty of such a large chain is hard work and I don't want to miss out on the property that we've had an offer accepted on.

In your situation I would be considering the position of the alternate buyers. If they are chain free and have the cash, certainly worth getting them in. At worst they hate it or you can use them as a fire to light under the existing buyers, if you need it.

Having dicked around for a week now, I suspect the situation is this

• Lots of people trying to buy but they don't have the means or overstate their position
  
• EA's with loads of backed up stuff that may be falling apart
  
• Sellers getting twitchy, expecting to have offers but the ones they get suck for various reasons
  
  

EA's worst problem at the mo are 'problem sales' that eat time and result in so sale, hence your EA trying to get a sure bet in instead of a 'maybe'.

It's very normal for them to ask you to serve a section 42 notice and then assign the benefit of the notice with the lease. Who normally drafts the notice - the buyer's solicitor or the seller's - I'm not sure, but I don't find it surprising that they've suggested your solicitors do it. After all, it's a notice which you're serving, and the buyer's solicitors can't act for you since they're not your client.

Anyway, if your solicitors have an up to date Land Registry title for the lease (and they should) then it should take about 10-15 minutes to draft the s. 42 notice. You can even buy pre-printed Oyez forms where you just fill the boxes in. Drafting the deed of assignment is more complicated, and that will usually have cross-indemnities and other provisions in it.

I'm assuming the buyer's solicitors will want to decide what premium should be proposed in the section 42 notice, as the buyer's going to be the one negotiating the premium.

But basically it sounds pretty standard. Doesn't get my lawyerly spidey senses tingling with suspicion.

There aren't any alternate buyers at the moment, he just wants to start showing it to first-time/cash buyers again in the hope of getting an offer.

Estate agent is doubly twitchy as the one we're buying is also listed with them so it not going through could cost two sets of commission.

My sale seems to be progressing fine but the lack of visibility on the rest of the chain is a real ballache.

It's very normal for them to ask you to serve a section 42 notice and then assign the benefit of the notice with the lease.

This was my understanding.

Who normally drafts the notice - the buyer's solicitor or the seller's - I'm not sure, but I don't find it surprising that they've suggested your solicitors do it. After all, it's a notice which you're serving, and the buyer's solicitors can't act for you since they're not your client.

With S42 if you cock it up the freeholder can then ignore you for twelve months before giving you a chance to do it again. So I would have thought the buyer would have the interest in getting their solicitor to do it as they are acting in their interest.

I serve the S42, but only after exchange and the deposit is down. If they cock up the notice, that's their problem.

Anyway, if your solicitors have an up to date Land Registry title for the lease (and they should) then it should take about 10-15 minutes to draft the s. 42 notice.

You can even buy pre-printed Oyez forms where you just fill the boxes in.

Yeah I thought that but my solicitor shit the bed...

Drafting the deed of assignment is more complicated, and that will usually have cross-indemnities and other provisions in it.

... because I think they confused it with this.

I'm assuming the buyer's solicitors will want to decide what premium should be proposed in the section 42 notice, as the buyer's going to be the one negotiating the premium.

Yep. Again I think my solicitor thought we would need to do that

But basically it sounds pretty standard. Doesn't get my lawyerly spidey senses tingling with suspicion.

I think there's been a whole load of incompetence on behalf of both solicitors. This has been going on for months. Sale agreed 18 weeks ago. I see the headlines of the contact last week and basically it wasn't what we agreed regarding 42, service charge provision, MW bills. And the EA was furloughed (FFS as if there was no work to do) which hasn't helped.

I'm losing my rag with it, close to telling the buyer to do one and I'll just rent the place and escape to the countryside.

I thought it was to make things rrun smoother, you apply for lease extension and that transfers to new buyer,£40 form at council innit?,,, my friends just doing it

Yeah I know everyone thinks it's easy except in my situation because the solicitors have fucked it up.

Just don't fuck up the notice or you can get in trouble, it's not a risk free process although the penalty is 'just' having to wait 12 months before having another go.

I've also been having lease extension fun.

Myself and the guy downstairs both extended our lease. Same lawyer, identical wording on the amendment. The solicitor for the people buying my place have pointed out that the land registry has recorded one flat with the lease being 999 years from the original lease date and the other being 999 years from the amendment date ...

Seems it isn't a huge issue, just an extra piece of admin for me.

Remarkable that they even raised that with you. It's either a lease so long that you shouldn't have to consider it, or it isn't.

I guess it was sold to them as having a 999 year long lease and that's what they want!

With S42 if you cock it up the freeholder can then ignore you for twelve months before giving you a chance to do it again. So I would have thought the buyer would have the interest in getting their solicitor to do it as they are acting in their interest.

If they cock it up and the notice is invalid it's not a problem if it's spotted before the sale completes as you can just serve a valid notice. If it isn't spotted until after the sale completes then yes, they have a problem. I'd expect the drafting of the section 42 to essentially be a collaborative process. One side drafts it, the other side checks it, off it goes. Who actually does the first draft doesn't seem that important really.

Yeah I thought that but my solicitor shit the bed...

If your solicitor doesn't think they're competent to draft a section 42 notice, that bodes, and it does not bode well.

... because I think they confused it with this.

As above. I hope they're at least cheap.

Again I think my solicitor thought we would need to do that

If that's the case then they really don't know what they're doing.

I think there's been a whole load of incompetence on behalf of both solicitors.

I'm inclined to agree!

I don't think they were that fussed about the length, more that two identical amendments were showing different dates and they didn't want it to become an issue further down the line.

I'd expect the drafting of the section 42 to essentially be a collaborative process. One side drafts it, the other side checks it, off it goes. Who actually does the first draft doesn't seem that important really.

Yep this was my understanding originally, however neither solicitor seems to have agreed with this assessment, and it's got the point where I'm like the buyers solicitor is doing it all because I don't understand how my solicitors input would help and I don't want to be seen to be part of the process at all because it's a ball ache and a complete fucking distraction from the primary job which is to get the basic conditions of the sale sorted out regarding the outstanding MW charge.

I'm past the point where care if the sales goes through or not. My other flat hasn't sold, it won't sell in time, we don't have the cash to move without going back to the bank with a begging bowl.

Does anyone have a recommendation for a builder who can redo a front garden. Lay a Victorian path put large paving down. Ideally in North London.

Mine did a decent job and pretty much what you're describing. I can dig out there info?

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Cross posting to the OCD Porn thread...

You started this thread 11 years ago, that’s mad

That would be great. I still love your fence.