We are close to exchanging contracts on the sale of our property in Llanelli and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the buyers used a web based conveyancing practice as opposed to a conveyancing solicitor in Llanelli. Having lived in Llanelli for six years we know of no issue. Do we get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
How does conveyancing in Llanelli differ for newly converted properties?
Most buyers of new build property in Llanelli approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Llanelli tend to acquire the site, 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 accustomed to new build conveyancing in Llanelli or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Llanelli before appointing solicitors. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies may not grant a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llanelli. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Llanelli to see if the conveyancing costs will increase in light of this.
My uncle has recommend that I appoint his conveyancers in Llanelli. Should I find my own solicitor?
There are no two ways about it the best way to select a conveyancing solicitor is to seek referrals from friends or family who have actually previously instructed the conveyancer you're considering.
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Llanelli. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Llanelli ?
Most houses in Llanelli are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Llanelli so you should seriously consider looking for a Llanelli conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
I am the registered owner of a basement flat in Llanelli, conveyancing having been completed July 2002. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Llanelli with over 90 years remaining are worth £202,000. The ground rent is £60 yearly. The lease ceases on 21st October 2076
With only 57 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.