Is there a reason why leasehold purchase conveyancing in Corfe Castle costs more?
The conveyancing fees for a leasehold property in Corfe Castle is frequently higher when contrasted to a freehold transaction. This is due to the supplemental time required in liaising with the landlord and managing agents to obtain information about whether the rent and service fee have been discharged and whether there are any major works due in the near future on repairs or maintenance of the block.
I am purchasing a semi-detached house in Corfe Castle. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Corfe Castle you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Corfe Castle.
I am looking for a flat up to £195,000 and identified one near me in Corfe Castle I like with amenity areas and station nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Corfe Castle suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
As co-executor for the will of my grandmother I am disposing of a house in Cardiff but I am based in Corfe Castle. My lawyer (approximately 200 miles from meneeds me to execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Corfe Castle who can witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are Corfe Castle based
Last October I purchased a leasehold house in Corfe Castle. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a studio flat in Corfe Castle, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Corfe Castle with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2092
With only 73 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for extending 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 tribunal or court proceedings. There may be additional 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 without first seeking the advice of a professional.