Having sold my house in Paignton last October yet the purchaser is telephoning daily to say her solicitor needs to hear from mysolicitor. What are the post completion sale formalities now that I have sold?
After completion of your sale your conveyancer is duty bound to send the transfer documentation and all additional paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer must also evidence that the home loan has been repaid to the purchasers lawyers. There is unlikely to be post completion requirements just for conveyancing in Paignton.
We're in Paignton, FTBs buying with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Paignton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Paignton
Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
What advice can you give us when it comes to choosing a Paignton conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Paignton conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Paignton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
If they are not ALEP accredited then why not?
I own a garden flat in Paignton, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Paignton with an extended lease are worth £216,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2087
With just 69 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
Can you set examples of specific advantages to instructing a local conveyancer in Paignton
Many buyers and sellers in Paignton decide on using a nearby high street property lawyer so that they can attend the lawyer’s offices if they have problems, and to execute documents without using the post.
One could allege that there is a distinct benefit in opting for a conveyancer nearby to the property you are purchasing, due to the familiarity of the area and potential local concerns - nevertheless this is debatable. Many conveyancers undertaking their work via the internet and could be anywhere in the world.