When does exchange of contracts take place for purchase conveyancing in Bedmond and do I need to be at the solicitors office?

If you are in close proximity to our conveyancing solicitors in Bedmond you are welcome to attend to sign documents. However, the law practices we work with offer a nationwide conveyancing service and provide just as detailed and professional a job for you when communicating with you electronically. The executing of the purchase agreement is not the point of no return. Signing on the dotted line is necessary for the conveyancer to address the formalities 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 in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bedmond)to be in the office available at the end of the phone to exchange contracts.

Should our conveyancer be raising questions regarding flooding during the conveyancing in Bedmond.

The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Bedmond. Plenty of people will acquire a property in Bedmond, fully aware that at some time, it may suffer from flooding. 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 insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Lawyers are not best placed to give advice on flood risk, but there are a number of checks that can be initiated by the purchaser or by their lawyers which can figure out the risks in Bedmond. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine if the property has historically flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer could commence a legal claim for losses stemming from an misleading response. The purchaser’s lawyers should also order an environmental search. This will indicate if there is any known flood risk. If so, additional investigations will need to be initiated.

Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Bedmond I like with open areas and station nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Bedmond in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

If you need a home loan the shortness of the lease will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.

We're first time buyers - had an offer accepted, yet the estate agent advised that the owners will only issue a contract if we instruct the agent's preferred lawyers as they need a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Bedmond

We suspect that the seller is not behind this ultimatum. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and make sure they understand (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)but you will continue to use your preferred Bedmond conveyancing lawyers - not the ones that will give the negotiator at the agency a referral fee or hit his conveyancing thresholds demanded by corporate headquarters.

I am in need of some leasehold conveyancing in Bedmond. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Bedmond - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I invested in buying a ground floor flat in Bedmond, conveyancing was carried out 9 years ago. How much will my lease extension cost? Corresponding flats in Bedmond with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2092

With just 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.