We opted for a Edingale based solicitor for our conveyancing in Edingale last week. Upon checking the small print it is apparent thatI am liable for charges even if the sale aborts. Should I ditch them and use an on-line conveyancing brokerage promoting no completion no cost conveyancing in Edingale?
Generally there is a concession along the lines that if "No Completion No Fee" is available then the conveyancing charges will tend to be be uplifted to neutralise those transactions that fail to complete. Do bear in mind that such deals rarely cover outlay such your Edingale conveyancing search costs.
I own a 4 bedroom Georgian house in Edingale. Conveyancing practitioner represented me and Halifax. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Halifax to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Edingale and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who completed the work.
I am buying a new build apartment in Edingale. Conveyancing is a frightening process 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 legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Edingale
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan.
I am tempted by the attractive purchase price for a two flats in Edingale both have approximately forty five years unexpired on the leases. should I be concerned?
There are plenty of short leases in Edingale. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorates and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area.
I inherited a leasehold flat in Edingale, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Edingale with over 90 years remaining are worth £201,000. The ground rent is £45 per annum. The lease finishes on 21st October 2084
With 65 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Our conveyancing in Edingale is set to complete this Friday, yet the owners I am buying from has asked to move out the next day at noon. Do I agree to such a plan?
It is not possible to complete on a Saturday because the bank systems are not operational.