It has been 3 months following my purchase conveyancing in Salcombe completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I have been on the look out for a flat up to £195,000 and found one close by in Salcombe I like with a park and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Salcombe for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.

We're FTB’s - had an offer accepted, yet the property agent informed us that the owners will only proceed if we instruct their preferred lawyers as they need an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Salcombe

We suspect that the owner is not behind this ultimatum. Should the owner want ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you will continue to use your preferred Salcombe conveyancing firm - not the ones that will give the negotiator at the agency a introducer fee or achieve conveyancing figures demanded by senior management.

Leasehold Conveyancing in Salcombe - Sample of Queries before Purchasing

Many Salcombe leasehold flats will be liable to pay a service bill for the upkeep of the block set by the freeholder. Should you acquire the property you will have to pay this contribution, normally in instalments accross the year. This may be anything from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met yearly, ordinarily this is not a large sum, say approximately £50-£100 but you need to check it because on occasion it could be surprisingly expensive. What is the the remaining lease term?

My plan is to purchase a garden apartment in Salcombe. Conveyancing lawyer has been waiting for, from the vendor, building insurance paperwork. This morning I was advised that the vendor must send the insurance documents for the flat above as well. Why does my want to review the insurance for the other flat? Is it strictly required? We have been stalled for the last month…

It is not unheard of in leasehold conveyancing in Salcombe to discover Conveyancing in Salcombe in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats as opposed to the freeholder insuring the whole property - which is definitely preferable. Do clarify with your but it would seem that your is seeking to verify that the entire building is insured. Insuring a ground floor apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be reconstructed due to lack of insurance cover.