At what point can the exchange of contracts happen for purchase conveyancing in Colchester and do I need to be at the conveyancers office?

If you are local to one of the conveyancing solicitors in Colchester you are welcome to attend to sign contracts. However, the law practices we recommend supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the sale agreement is not the point of no return. A signed contract is just a prerequisite for the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Colchester)to be in the office at the appropriate time.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Colchester is the location of the property. What do you suggest?

Flying freeholds in Colchester are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colchester you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colchester 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.

How can the Landlord & Tenant Act 1954 affect my commercial offices in Colchester and how can your lawyers assist?

The particular law that you refer to affords a safeguard to commercial tenants, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Colchester

What are your top tips when it comes to choosing a Colchester conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Colchester conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Colchester conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:

How many lease extensions have they conducted in Colchester in the last 12 months? What are the legal fees for lease extension conveyancing?

I purchased a 1st floor flat in Colchester, conveyancing formalities finalised 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Colchester with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2077

You have 51 years left to run the likely cost is going to range between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.

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 are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Colchester. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Colchester are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Colchester so you should seriously consider looking for a Colchester conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.