Will lawyers request money up-front for conveyancing in Totton?

Where you are retaining lawyers for conveyancing in Totton your lawyer will ask you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the purchase price then this will be asked for shortly in advance of contracts are exchanged. The final balance that is due will be payable shortly before completion.

A friend advised me that in buying a property in Totton there may be various restrictions affecting the ability to carry out external changes to a property. Is this right?

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

I happen to be the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Totton. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the property in March. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. many banks would take a practical view as this requirement chiefly exists to capture the purchase and immediately sell or the wholesaling and assigning of property.

Can I be sure that the Totton conveyancing solicitor on the Leeds Building Society panel is any good?

When it comes to conveyancing in Totton seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer conducting your conveyancing.

Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial premises in Totton?

Many commercial conveyancing solicitors in Totton will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Totton. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Totton.

For every commercial conveyancing transaction in Totton it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Totton commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Totton.

We're first time buyers - agreed a price, yet the agent has warned us that the owners will only proceed if we instruct their chosen conveyancers as they want an ‘expedited deal’. We would rather use a family solicitor with experience of conveyancing in Totton

We suspect that the owner is not behind this request. If they desire ‘a quick sale', alienating a serious purchaser is counter productive. Avoid the agents and go straight to the sellers and explain that (a)you are genuine buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you intend to use your own,trusted Totton conveyancing solicitors - not the ones that will give their estate agent a introducer fee or achieve conveyancing figures demanded by corporate headquarters.

I am looking at a couple of flats in Totton both have approximately forty five years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Totton is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Totton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I invested in buying a split level flat in Totton, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Totton with an extended lease are worth £227,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2096

With 72 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.