How up to date is your database of Cotgrave solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?
Cotgrave conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
Just had an offer accepted on a new build flat in Cotgrave. 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.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cotgrave
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Cotgrave I like with amenity areas and railway links in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Cotgrave in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Taking into account that I am about to part with £400,000 on a house in Cotgrave I would like to talk to a conveyancer regarding thetransaction prior to giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your property ownership legalities in Cotgrave.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The law firms that we put you in touch with believe that the figure you are quoted for your conveyancing in Cotgrave should be the amount on the final invoice that you are charged.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Cotgrave. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Cotgrave are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Cotgrave in which case you should be shopping around for a Cotgrave 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 lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
I invested in buying a studio flat in Cotgrave, conveyancing was carried out in 2007. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Cotgrave with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease finishes on 21st October 2078
With only 59 years left to run we estimate the price of your lease extension to be between £20,900 and £24,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.