I have been told that property searches are the primary reason for hinderance in Greater Manchester conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Greater Manchester.
Despite weeks of looking the Title Certificate and documents to our home are lost. The solicitors who dealt with the conveyancing in Greater Manchester 5 years ago have long since closed. Will I be able to sell the house?
These day there are copies made of almost everything, and your solicitor will know precisely where to look for all the appropriate paperwork so you can purchase or sell your house without a hitch. If copies are not available, your conveyancer can arrange cover in the form of insurance or indemnities protecting you against possible claims on your premises.
How does conveyancing in Greater Manchester differ for newly converted properties?
Most buyers of new build premises in Greater Manchester approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Greater Manchester typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Greater Manchester or who has acted in the same development.
How do I use the search tool to choose a conveyancing solicitor in Greater Manchester on the panel for my bank?
First pick a mortgage company such as Birmingham Midshires, The Mortgage Works or Platform Home Loans Ltd then specify your preferred area for example Greater Manchester. Conveyancing organisations in Greater Manchester and nationally will then be identified.
Do you have any advice for leasehold conveyancing in Greater Manchester with the purpose of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Greater Manchester can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers’ solicitors. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Greater Manchester state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you fail to have the paperwork in place do not communicate with the landlord without checking with your conveyancer in the first instance. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing. If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and frustrates many a Greater Manchester home move. If a new share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this sooner rather than later. You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I am the registered owner of a garden flat in Greater Manchester, conveyancing formalities finalised July 2004. Can you work out an approximate cost of a lease extension? Comparable flats in Greater Manchester with a long lease are worth £207,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2075
With 57 years remaining on your lease the likely cost is going to range between £28,500 and £33,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.