I just acquired a property at auction in Shirehampton. Conveyancing is necessary. What is next?

Given that you are now legally committed yourself to purchase you must retain a conveyancing lawyer as a matter of priority as you are faced with a fast approaching a drop dead date to complete the transaction. All auction property should have an associated legal set of papers. This should include most,if not all of the documents that your solicitor will need. In the case of leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in order to complete the transaction on the set completion date.

A colleague advised me that in buying a property in Shirehampton there may be various restrictions preventing external alterations to a property. Is this right?

There are a number of properties in Shirehampton which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Shirehampton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

Intending to buy a flat in Shirehampton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Shirehampton conveyancer is on the Lloyds conveyancing panel.

How does conveyancing in Shirehampton differ for new build properties?

Most buyers of new build residence in Shirehampton come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Shirehampton typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Shirehampton or who has acted in the same development.

I am looking for a leasehold apartment up to £195,000 and found one round the corner in Shirehampton I like with open areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Shirehampton suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you require a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.

I am downsizing from my home. My past conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Shirehampton if that affects matters.

Do use our search tool to help you find a solicitor for your conveyancing in Shirehampton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.

I’m about to sell my garden apartment in Shirehampton. Conveyancing has not commenced, but I have recently received a quarterly service charge invoice – what should I do?

The sensible thing to do is discharge the maintenance contribution as normal because all ground rent and service charges should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until 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.

Leasehold Conveyancing in Shirehampton - Examples of Questions you should consider Prior to buying

The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this situation the tenants benefit from being in charge if their destiny and even though a managing agent is usually retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. This question is important as a) areas could cause problems for the block as the common areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the running of the building you will want to have all the details