How does conveyancing in Totnes differ for newly converted properties?

Most buyers of new build property in Totnes approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Totnes typically buy the land, 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 Totnes or who has acted in the same development.

Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Totnes I like with a park and transport links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Totnes in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a home loan that many years will likely 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 property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.

I have been recommended by a few estate agents in Totnes to select a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to offer your lawyers rather than alternative conveyancing organisations?

We refuse to offer any referral fee for directing people our way. We found it would be just too difficult a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.

I need to appoint a conveyancing solicitor for residential conveyancing in Totnes. I happened to land on a web site which appears to be the perfect offering If it is possible to get all this stuff completed via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I have just appointed agents to market my garden flat in Totnes.Conveyancing lawyers have not yet been instructed however I have recently received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as you normally would given that all ground rent and service payments will be allottedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies 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