Completed the sale of my flat in Walton Merseyside last November but our buyer keeps texting me to say his lawyer needs to hear from mysolicitor. What should my lawyer have done following completion?
Following your sale your lawyer is committed to send the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your lawyer should also evidence that the mortgage has been repaid to the buyers solicitors. There are no post completion procedures just for conveyancing in Walton Merseyside.
Various online forums that I have come across warn that are the main reason for obstruction in Walton Merseyside conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Walton Merseyside.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who did the conveyancing in Walton Merseyside 4 years ago no longer exist. What are my next steps?
Nowadays there are duplicates made of almost everything, and your solicitor will know exactly where to find all the suitable documentation so you may buy or dispose of your house without any difficulty. Where copies are not available, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
Am I right to be suspicious about estate agents that I am dealing with are recommending an online conveyancing firm as opposed to a High Street Walton Merseyside conveyancing practice?
As with many service providers, often suggestions from family and friends can be very helpful. But there are many parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and banks might all suggest lawyers to retain. Sometimes the solicitors might be known to one of the organisations as being good in their field, but sometimes there may be a financial incentive behind the endorsement. You are free to appoint your own lawyer. Don't forget that most lenders have an approved list of solicitors you are obliged to use for the lender aspect of your transaction.
I am attracted to a two flats in Walton Merseyside both have about fifty years remaining on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.
I bought a 1 bedroom flat in Walton Merseyside, conveyancing formalities finalised April 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Walton Merseyside with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2098
You have 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.