My wife and I are about to exchange buying a property in Leighton Buzzard but as a consequence of damage from the recent storms I have managed to agree compensation from the vendor in the sum of £3k in the form of a deduction in the price. I had intended this to be dealt with as part of amending the contract however Nottingham are not allowing this. Should they have been involved?
Your solicitor being on the Nottingham conveyancing panel is duty bound to inform Nottingham of any variations to the sale price. If you prohibit your solicitor to report the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new lawyer for your conveyancing in Leighton Buzzard.
Why do I have to pay up front for my conveyancing in Leighton Buzzard?
Where you are retaining lawyers for conveyancing in Leighton Buzzard your lawyer will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is payable against the purchase price then this will be needed shortly prior to contracts are exchanged. Any further balance that is needed should be sent to your lawyer a few days prior to the completion date.
After researching mumsnet.com for a recommended lawyer in Leighton Buzzard, most comment that I must look for a CQS assured solicitor. Can you explain what CQS is?
Leighton Buzzard Conveyancing Quality Scheme solicitors have achieved accreditation by the law Society The Law Society created CQS to promote high standards in the in the legal transfer of properties. CQS helps home movers to identify practices who provide a quality residential conveyancing. Leighton Buzzard is one of the many areas in England and Wales in which accredited firms are based. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-certification, random audits and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Building Societies Association.
four months have elapsed following my purchase conveyancing in Leighton Buzzard concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150,000 garden flat in Leighton Buzzard in 8 days. The managing agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Leighton Buzzard?
For most leasehold sales in Leighton Buzzard conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Answering conveyancing due diligence questions
Where consent is required before sale in Leighton Buzzard
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 invested in buying a 1 bedroom flat in Leighton Buzzard, conveyancing was carried out 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Leighton Buzzard with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2069
With 50 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.