My previous solicitor has quoted just over a thousand pound for fixed fee conveyancing in Salford. I am selling a modern property for £175,000. Is this too much? Is it in excess of what I should be paying for conveyancing in Salford?
The quote is slightly on the steep side. If you shop around you could get the conveyancing a bit cheaper by perhaps £100 plus VAT. On the other hand, you mightcome to rue opting for an an unknown conveyancer. Don't forget to check the solicitor can also act for your mortgage company. You can employ our search tool to select a Salford conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Salford.
What does a local search tell me regarding the house I am buying in Salford?
Salford conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company such as PSG The local search is essential in every Salford conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Salford I like with amenity areas and station in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in Salford for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I am employed by a long established estate agent office in Salford where we have experienced a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Salford conveyancing firms. Please can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Salford Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
Many Salford leasehold flats will incur a service bill for maintenance of the block set on behalf of the landlord. Where you acquire the property you will have to pay this liability, normally periodically throughout the year. This may vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a rentcharge to be met annual, ordinarily this is not a significant sum, say around £25-£75 but you should to check it because occasionally it could be surprisingly expensive. Please note that where the lease has less than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you would be required to have owned the property for 24 months before you are eligible to extend the lease. Is the freehold reversion owned jointly by the leaseholders?
I need to find a lender panel solicitor in Salford. Could you help me?
It is not clear why you need a Salford panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Salford are on their panel . If you do find such a firm in Salford not listed please direct them to our site to list. After all the cost is only one £1 a month