The conveyancer who assisted with my previous purchase has given a fee calculation of £1700 for no sale no fee conveyancing in Woodbridge. I’m hoping to sell a newly refurbished property for £175,000. Are these estimated fees excessive? Is it in excess of the average fee for conveyancing in Woodbridge?
The estimate does seem marginally overpriced. Where you are happy to expend time scrutinising fee on a like for like basis you might get the conveyancing a bit cheaper by say £100 plus VAT. That being said, you couldcome to rue opting for an an unknown conveyancer. Remember to be sure the conveyancer can act for your mortgage company. You can make use of our search tool to find a Woodbridge conveyancing practice on the banks conveyancing panel which can often include conveyancing solicitors in Woodbridge.
The vendors of the house we are hoping to buy hired a conveyancing firm in Woodbridge who has suggested a lock out contract with a payment two thousand pounds. Are such arrangements promoted for Woodbridge conveyancing transactions?
There are two primary concerns with signing a lock out contract (occasionally known as a no-shop agreement) is that it takes away the focus from progressing with the conveyancing process, so unless it requires limited or no negotiation then it could transpire to be a cause of frustration and delay. It is not promoted by Woodbridge conveyancing practitioners as a result. A supplemental issue is the extent of the remedies available - a jilted buyer is not likely to be issued with an injunction to prohibit the vendor disposing of the property to a third party, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in rare scenarios, the additional payment of penalties.
About to purchase a new build flat in Woodbridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Woodbridge
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Woodbridge and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in Woodbridge
I have just started marketing my 2 bed apartment in Woodbridge. Conveyancing solicitors are to be appointed soon, however I have recently had a half-yearly maintenance charge invoice – 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 usual because all ground rent and maintenance charges should be allotted on completion, 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 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.
I purchased a garden flat in Woodbridge, conveyancing having been completed in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Woodbridge with an extended lease are worth £265,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2094
With 75 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.