Finally the sale completed on my house in Elephant and Castle last July but my buyer keeps SMS messaging me complaining that their lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your house sale your lawyer is committed to forward the transfer documentation and all additional paperwork to the purchaser's solicitors. Where relevant, your conveyancer must also evidence that the mortgage has been redeemed to the purchasers lawyers. There are no post completion procedures peculiar conveyancing in Elephant and Castle.
I am buying a garden flat in Elephant and 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 Elephant and Castle you will have to appoint a solicitor on your bank'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 Elephant and Castle.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Elephant and Castle I like with open areas and station nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Elephant and Castle for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
What does commercial conveyancing in Elephant and Castle cover?
Non domestic conveyancing in Elephant and Castle incorporates a broad range of guidance, offered by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I am the registered owner of a studio flat in Elephant and Castle, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Elephant and Castle with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 50
With 50 years unexpired the likely cost is going to range between £36,100 and £41,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.