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Recently asked questions about conveyancing in Audley

We were about to instruct a conveyancing solicitor in Audley recommended by you but stumbled across alternative estimates on the internet look less expensive – how come?

You can find plenty of conveyancers offering what appear to be cut price. Our recommendation is to give due consideration as to how much you respect your own move to you are willing to be penny wise pound foolish over the standard of the legal work. Many of them list a cheap fee to catch your eye but plant extra charges in the fine print..

The vendors of the property we are hoping to buy are using a conveyancing firm in Audley who has recommended a preliminary agreement with a down payment 6,000. Are such arrangements promoted for Audley conveyancing transactions?

There are two main downsides with signing a lock out agreement (occasionally referred to as a shut-out contract) is that it takes away the focus from progressing with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it may transpire to be unhelpful. It is not particularly popular by Audley conveyancing practitioners as a result. The other main concern is the extent of the remedies available - an aggrieved buyer is very unlikely to win an injunction to prohibit the seller disposing of the property to another buyer, so the only remedy available under the agreement will be the reimbursement of abortive costs and, in rare circumstances, the extra payment of penalties.

My wife and I own a terraced Victorian property in Audley. Conveyancing solicitor acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?

You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Audley and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing solicitor who carried out the work.

My cousin has urged me to appoint his conveyancing solicitors in Audley. Should I choose my own property lawyer?

There are no two ways about it the best way to choose a conveyancing practitioner is to get feedback from friends or relatives who have actually experience in using the firm you're are thinking of instructing.

I’m about to sell my ground floor flat in Audley. Conveyancing lawyers have not yet been instructed, however I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal given that all rents and service invoices will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I acquired a basement flat in Audley, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Audley with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease runs out on 21st October 2076

With only 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

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Find out more about how flying freehold can affect your the value of a property.