Can you help? My Okehampton solicitor is informing me me that he has toorder Okehampton conveyancing searches asthe firm are on the Nat Westconveyancing panel. Do I not have any options here?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Okehampton conveyancing searches.
Is there a reason why leasehold purchase conveyancing in Okehampton is more expensive?
Okehampton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
About to purchase a new build flat in Okehampton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Okehampton
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I have been recommended by a few estate agents in Okehampton to locate a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to offer your site over and above another?
We refuse to offer any commission for directing people to this site. We found it would be just too difficult a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Estate agents have just been given the go-ahead to market my ground floor apartment in Okehampton. Conveyancing solicitors are to be appointed soon, however I have just received a half-yearly service charge invoice – what should I do?
The sensible thing to do is pay the service charge as normal given that all ground rent and service charges will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a 2 bed flat in Okehampton, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Okehampton with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2085
You have 61 years remaining on your lease we estimate the price of your lease extension to be between £19,000 and £22,000 as well as 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 a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.