At what point does exchange of contracts happen for residential conveyancing in Audley and do I need to attend the solicitors branch?
Where you are round the corner to our conveyancing solicitors in Audley you are welcome to come in to sign the paperwork. However, the firms we work with provide countrywide coverage for conveyancing and give as equally detailed and professional a job for you when dealing with you electronically. The executing of the purchase agreement is not the point of no return. Signing on the dotted line simply enables the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Audley)to be in the office available at the end of the phone to exchange contracts.
My bank has recommended a law firm on their panel based in Audley but I would rather use a conveyancing lawyer in Audley local to me. Can you assist?
Not all Audley conveyancing practices are listed all lender’s conveyancing panel. Please make the most of our search tool to identify a Audley conveyancing firm on the on the lender panel.
I have been told that property searches are the number one cause of stalling in Audley house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Audley.
In what way can the Landlord & Tenant Act 1954 impact my commercial property in Audley and how can your lawyers assist?
The 1954 Act affords a safeguard to business leaseholders, giving them the a statutory right to apply to court for a new tenancy and remain in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Audley is one of our hundreds of locations in which our lawyers are located
Last December I purchased a leasehold property in Audley. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a ground floor flat in Audley, conveyancing was carried out 4 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 Audley with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2095
With only 70 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
What can I expect to pay for conveyancing in Audley?
Almost all Audley conveyancing firms will agree to a standard fee. In the event that extra work becomes necessary during the transaction your property lawyer should advise you in writing of any additional costs for any work as soon as it becomes foreseeable. Some work on a no completion no fee principle, others will levy an bill for a fraction of the set costs, calculated based on the stage at which the matter does not proceed.
We would recommend that you seek a few firms to provide you a quotation.