I have given 8 weeks notice to my existing landlord and must vacate my rented flat in Birmingham and the Black Country by 11/1/2021. Conveyancing on my purchase has just started. How realistic is it to complete in 4 weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to give notice for your lease until exchange of contracts has taken place. Assuming that you have not already done so, contact to your lawyer and urge them to they apply pressure on the owners lawyers, try to an acceptable time-line that all parties will work to achieve
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Birmingham and the Black Country so that I can pop in to their offices when needed.
As opposed to twenty years ago, almost all banks no longer require their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to provide ID documents and there are still distinct benefits to choosing a locally based ayer, in your situation a conveyancing solicitor in Birmingham and the Black Country.
Should commercial conveyancing searches disclose impending roadworks that could impact a commercial property in Birmingham and the Black Country?
Its becoming the norm that commercial conveyancing solicitors in Birmingham and the Black Country will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Birmingham and the Black Country. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Birmingham and the Black Country.
For every commercial conveyancing transaction in Birmingham and the Black Country it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Birmingham and the Black Country commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Birmingham and the Black Country.
How does conveyancing in Birmingham and the Black Country differ for newly converted properties?
Most buyers of new build property in Birmingham and the Black Country contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Birmingham and the Black Country usually purchase the land, 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 Birmingham and the Black Country or who has acted in the same development.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Birmingham and the Black Country. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Birmingham and the Black Country are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Birmingham and the Black Country so you should seriously consider looking for a Birmingham and the Black Country conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
I own a 1 bedroom flat in Birmingham and the Black Country, conveyancing having been completed in 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Birmingham and the Black Country with over 90 years remaining are worth £207,000. The ground rent is £60 per annum. The lease expires on 21st October 2077
With only 57 years left to run the likely cost is going to range between £28,500 and £33,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.