I was recommended to a conveyancer who has given a fee calculation of £1150 for fixed fee conveyancing in Coniston. I am hoping to sell a purpose built detached home for £250,000. Are the quoted fees excessive? Is it above the average fee for conveyancing in Coniston?
The quote is fractionally on the steep side. If you shop around you may be able to decrease the fees slightly by perhaps £125. On the other hand, you couldlive to regret choosing an a cheaper solicitor. Don't forget to ensure the solicitor can also act for your mortgage company. You can utilise our comparison tool to locate a Coniston conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Coniston.
Various internet forums that I have visited warn that are the main cause of stalling in Coniston conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Coniston.
I have todaydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Coniston for a purchase of a leasehold flat 12 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Coniston conveyancing specialists.
About to purchase a new build flat in Coniston. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Coniston
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan.
I am tempted by the attractive purchase price for a two flats in Coniston which have about forty five years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Coniston is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of buyers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Coniston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I purchased a garden flat in Coniston, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Coniston with over 90 years remaining are worth £260,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2096
With only 75 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.