I am in a contract race with another prospective purchaser for a property in Bognor Regis. What can I do to speed up the legal process?
First, If you are under pressure to exchange we would recommend that your lawyer is familiar with the location as they will make use of local relationships and know-how. It is even conceivable that they may have transacted otherhouses in the same neighbourhood. You would be best advised to use a Bognor Regis conveyancing firm. In addition, check that the conveyancing firm is on the lender panel. It is said that just under twenty per cent of Bognor Regis conveyancing deals are held up or derailed after finding out that a purchaser’s lawyer was not on their banks panel. This can often result in the legal transfer of property being held up by almost 21 days. It is claimed that this issue impacts approximately 100,000 home sales every year. Many Bognor Regis conveyancing firms can not represent certain lenders so do check at the outset.
Will lawyers request money up-front when it comes to conveyancing in Bognor Regis?
Where you are retaining lawyers for conveyancing in Bognor Regis your solicitor will request that you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the purchase price then this should be needed immediately before exchange of contracts. The closing balance that is due will be payable shortly before completion.
My Solicitor in Bognor Regis is not on the The Royal Bank of Scotland Solicitor Panel. Can I still use my family solicitor even though they are not on the The Royal Bank of Scotland panel?
Your options are as follows:
- Carry on with your preferred Bognor Regis lawyers but The Royal Bank of Scotland will need to instruct a conveyancer on their panel. This will inevitably rack up the overall legal fees as well as result in frustration.
- Choose an alternative lawyer to act in the purchase, obviously checking they are The Royal Bank of Scotland approved.
- Try to convince your The Royal Bank of Scotland based solicitor to try to join the The Royal Bank of Scotland panel
I am selling our home in Bognor Regis and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an online conveyancing practice as opposed to a conveyancing solicitor in Bognor Regis. We have lived in Bognor Regis for six years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Me and my brother purchased a semi-detached Edwardian house in Bognor Regis. Conveyancing practitioner represented me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bognor Regis and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the purchase.
My partner and I may need to sub-let our Bognor Regis 1st floor flat temporarily due to taking a sabbatical. We instructed a Bognor Regis conveyancing practice in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your previous Bognor Regis conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior consent. The consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I am the registered owner of a 1st floor flat in Bognor Regis, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Bognor Regis with a long lease are worth £202,000. The ground rent is £60 per annum. The lease expires on 21st October 2083
You have 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.