I am purchasing a house for cash in Broadclyst. I have been residing for the previous 20 years in Broadclyst. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road very well must I have all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Broadclyst conveyancing searches are at your discretion. Your lawyer will ’encourage you, perhaps strongly, that you should have searches carried out, but he is duty bound to take that path of encouragement . One thing to take into account; if you are likely to sell the house at a future date, it may be of interest to your prospective buyer what the searches contain. Sometimes properties with apparent issues can still reveal unfavourable search results. A competent conveyancing solicitor in Broadclyst will provide you some constructive guidance in this regard.
What happens if my lawyer’s firm is expelled from the Nottingham Conveyancing panel ahead of completing my conveyancing in Broadclyst?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Broadclyst is where the house is located. What do you suggest?
Flying freeholds in Broadclyst are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Broadclyst you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Broadclyst may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My husband and I are FTB’s - agreed a price, but the property agent told us that the seller will only issue a contract if we appoint the agent's recommended conveyancers as they need an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Broadclyst
It is unlikely the sellers are behind this. Should the seller desire ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Speak to the vendors direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your preferred Broadclyst conveyancing lawyers - not the ones that will earn their estate agent a commission or meet his conveyancing targets demanded by senior management.
Estate agents have just been given the go-ahead to market my garden apartment in Broadclyst. Conveyancing is yet to be initiated, however I have just received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would given that all rents and maintenance invoices should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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 leasehold flat in Broadclyst, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding properties in Broadclyst with an extended lease are worth £201,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2090
With only 65 years left to run the likely cost is going to span between £13,300 and £15,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered 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 getting professional advice.