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Recently asked questions about conveyancing in Little Burstead

Do the conveyancing solicitors that you recommend conduct attended exchange conveyancing in Little Burstead?

We do have a number of conveyancing specialists carrying out 24hr exchanges. Do call us to secure a costs illustration and details as to dates.

Why do I have to pay up front for my conveyancing in Little Burstead?

If you are buying a property in Little Burstead your solicitor will ask you place 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 deposit is payable against the sale price then this will be asked for immediately in advance of contracts are exchanged. The final balance that is needed should be transferred a couple of days prior to the day of completion.

Should our conveyancer be raising enquiries regarding flooding during the conveyancing in Little Burstead.

The risk of flooding is if increasing concern for solicitors dealing with homes in Little Burstead. There are those who acquire a property in Little Burstead, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Lawyers are not best placed to impart advice on flood risk, but there are a various checks that can be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Little Burstead. The standard completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to determine whether the premises has ever been flooded. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may commence a claim for damages as a result of such an misleading response. The purchaser’s solicitors should also carry out an environmental report. This should indicate if there is a recorded flood risk. If so, more detailed investigations will need to be initiated.

I am looking for a ground for flat up to £195,000 and found one near me in Little Burstead I like with amenity areas and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Little Burstead in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

If you need a home loan the shortness of the lease will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.

We expect to complete the disposal of our £175,000 apartment in Little Burstead in six days. The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Little Burstead?

Little Burstead conveyancing on leasehold maisonettes more often than not requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They are at liberty to invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

I invested in buying a leasehold flat in Little Burstead, conveyancing having been completed August 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Little Burstead with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2097

With only 76 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

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