The housing market in East Sussex is hotting up. What can I do to expedite matters?
In a situation where the seller is applying time constraints to complete it is advisable to make sure that your solicitor is familiar with the location as they will have local connections and know-how. It is even conceivable that they would have transacted previoushomes in the same street. You would be best advised to use a East Sussex conveyancing lawyer. Second, ensure that the lawyer is on the lender panel. It is estimated that 18% of East Sussex conveyancing transactions are frustrated or jeopardised after finding out that a buyer’s lawyer was not on their banks list of approved solicitors. This can often result in the transaction being delayed by as much as 21 days. It is said that this issue impacts approximately one hundred thousand home sales annually. Almost all East Sussex conveyancing practices can not act for certain lenders so do check as early as possible.
What will a local search inform me regarding the property I am buying in East Sussex?
East Sussex conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search plays an important part in many a East Sussex conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in East Sussex I like with a park and station nearby, the downside is that it only has 49 years unexpired on the lease. There is not much else in East Sussex suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Am I best advised to appoint a East Sussex conveyancing solicitor who is local to the property I am purchasing? We have a good friend who can conduct the legal formalities but her office is 400miles drive away.
The benefit of a local East Sussex conveyancing firm is that you can visit the firm to execute documents, deliver your identification documents and pester them where appropriate. Having local East Sussex know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were happy that must trump using an unknown East Sussex conveyancing lawyer just because they are East Sussex based.
All being well we will complete our sale of a £450,000 flat in East Sussex in just under a week. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in East Sussex?
East Sussex conveyancing on leasehold apartments typically results in administration charges raised by management companies :
Answering conveyancing due diligence enquiries
Where consent is required before sale in East Sussex
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in East Sussex, conveyancing formalities finalised September 2003. Can you please calculate a probable premium for a statutory lease extension? Similar flats in East Sussex with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2079
You have 59 years left to run we estimate the premium for your lease extension to range between £20,900 and £24,200 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.