I have given 2 months notice to my existing landlord and have to be out of my rented property in Babbacombe by the end of next month. Conveyancing on my purchase is progressing. Is it possible to complete in a couple of weeks as I wish to avoid having to move into temporary accommodation?
Generally one should not give notice for your tenancy until exchange of contracts has taken place. If you have not previously done so, contact to your conveyancer and ask them to they cajole the sellers solicitors, try to get a realistic time scale from them that everyone will work towards
As someone with no idea as to the Babbacombe conveyancing process what is the number one tip you can impart for the legal transfer of property in Babbacombe
You may not hear this from too many lawyers but conveyancing in Babbacombe or throughout Devon is an adversarial experience. In other words, when it comes to conveyancing there is plenty of opportunity for confrontation between you and other parties involved in the home moving process. E.g., the vendor, selling agent and on occasion the bank. Selecting a solicitor for your conveyancing in Babbacombe should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the legal process whose role it is to look after your legal interests and to keep you safe.
Every so often a potential adversary may attempt to persuade you that you should follow their advice. For instance, the selling agent may claim to be assisting by claiming that your lawyer is dragging his heels. Or your mortgage broker may advise you to do something that is against your conveyancers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My Solicitor in Babbacombe is not listed on the Bank of Scotland Conveyancing Panel. Can I still retain my family solicitor notwithstanding that they are not on the Bank of Scotland panel?
Your options are as follows:
- Complete the purchase with your preferred Babbacombe lawyers but Bank of Scotland will need to retain a solicitor on their panel. This will result in additional overall conveyancing charges as well as result in frustration.
- Find a new lawyer to to deal with the conveyancing, obviously checking they are on the Bank of Scotland panel
I have been on the look out for a flat up to £235,500 and identified one round the corner in Babbacombe I like with a park and railway links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Babbacombe in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I was recommended by a number of estate agents in Babbacombe to select a solicitor on your site. What’s the financial incentive for Estate Agents to promote your site over a competitor’s?
We refuse to offer any referral fee for sending work to this site. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My wife and I purchased a leasehold flat in Babbacombe. Conveyancing and Yorkshire Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Babbacombe who acted for me is not around. Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Babbacombe conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a leasehold flat in Babbacombe, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Babbacombe with a long lease are worth £195,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2087
With just 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.