I need some expedited conveyancing in Abertillery as I have an ultimatum to exchange contracts in less than one month. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to do searches although no conveyancer would recommend that you don't. With lots of history conveyancing in Abertillery the following are instances of issues that can crop up and therefore affect market value: Enforcement Actions, Outstanding Charges, Overdue Grants, Railway Schemes,...
I used Arc property Solicitors a few years ago for my conveyancing in Abertillery. I now require my file but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Abertillery of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Abertillery I like with open areas and transport links in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Abertillery for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
We're first time buyers - had an offer accepted, yet the estate agent has warned us that the owners will only issue a contract if we use their recommended conveyancers as they need a ‘quick sale’. We would rather use a high street solicitor who is accustomed to conveyancing in Abertillery
It is unlikely the owners are behind this. If they want ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you are going to use your preferred Abertillery conveyancing solicitors - rather thanthe ones that will give the negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by HQ.
I am a negotiator for a reputable estate agent office in Abertillery where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Abertillery conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Abertillery Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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This information is important as a) areas can result in problems for the block as the common areas may begin to deteriorate if services remain unpaid b) if the tenants have a dispute with the running of the building you will need to have all the details Are any of leasehold owners in dispute over their service charge liability? What restrictions are there in the Abertillery Lease?
My wife and I have chosen a Abertillery conveyancing solicitor for our house purchase (first time buyers) and have spotted in the Ts and Cs that they are not covered by the Financial Conduct Authority. Am I right to be concerned or is that usually the case with lawyer?
We can't see why they should be. Most property lawyer don't lend money. They should be regulated by the SRA, who set stringent laws in relation to funds held on client account.