The lawyer who helped my last purchase has sent a quote for £1400 for fixed fee conveyancing in Ely. I’m hoping to downsize from a modern detached home for £175,000. Are these estimated fees excessive? Is it above what I should be paying for conveyancing in Ely?
The costs illustration is fractionally on the expensive side. Where you are willing to spend time scrutinising charges you could shave off some of the expense by perhaps £125. On the other hand, you couldcome to rue opting for an an unknown conveyancer. Remember to ensure that the solicitor can act for your mortgage company. Do use our comparison tool to select a Ely conveyancing practice on the lender’s conveyancing panel which can often include conveyancing solicitors in Ely.
My partner and I have recently bought a property in Ely. We have noticed several problems with the property which we consider were omitted in the conveyancing searches. Is there anything we can do? What searches should? have been conducted for conveyancing in Ely?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Ely. Conveyancing searches and due diligence initiated as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a seller answers a questionnaire called a Seller’s Property Information Form. If the information proves to be inaccurate, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Ely.
When will exchange of contracts take place for sale conveyancing in Ely and am I required to be at the conveyancers office?
Where you are in close proximity to our conveyancing solicitors in Ely you are invited in to sign contracts. However, the lender approved solicitors we recommend supply countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when communicating with you digitally. The signing of the contract is not when everything is set in stone. A signed contract simply enables the firm to address the formalities at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ely)to be in the office at the appropriate time.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Ely is where the house is located. Can you offer any advice?
Flying freeholds in Ely are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ely you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ely may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am a negotiator for a reputable estate agency in Ely where we have experienced a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Ely conveyancing solicitors. Could you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Ely Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
How much is the ground rent and service charge? Are there any major works in the planning that will likely add a premium to the maintenance fees? The answer will be useful as a) areas may cause problems for the block as the common areas may begin to deteriorate where repairs remain unpaid b) if the leasehold owners have an issue with the managing agents you will wish to have all the details