At what point can the exchange of contracts take place for domestic conveyancing in Par and am I required to attend the conveyancers branch?
Where you are in close proximity to one of the conveyancing solicitors in Par you are welcome to attend to sign contracts. However, the lender approved solicitors we recommend supply countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you electronically. The executing of the purchase agreement is not the important part. A signed contract is necessary for the conveyancer to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Par)to be in the office available at the end of the phone to exchange contracts.
I have todaydiscovered that Action Conveyancing have closed. They carried out my conveyancing in Par for a purchase of a leasehold apartment 10 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Par conveyancing specialists.
I have been on the look out for a ground for flat up to £195,000 and found one close by in Par I like with a park and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Par suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I am on look out for some leasehold conveyancing in Par. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Par - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a leasehold flat in Par, conveyancing was carried out May 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Par with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2083
With just 62 years remaining on your lease we estimate the premium for your lease extension to span between £17,100 and £19,800 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 cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
I'm purchasing a house in Par. I can find my conveyancer's company on the Law Society's list, but I can't find my lawyer's name on the list. Should I be concerned?
Not all staff in the company must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unlicensed staff.