When will exchange of contracts occur in purchase conveyancing in Bridgend and am I required to attend the solicitors office?
Where you are near to our conveyancing solicitors in Bridgend you are welcome to come in to sign the paperwork. However, the law practices we recommend supply a national conveyancing service and give just as comprehensive and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not the important part. Signing on the dotted line simply enables the firm to officially exchange at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bridgend)to be in the office available at the end of the phone to exchange contracts.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Bridgend. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
My relative recommended that where I am buying in Bridgend I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Bridgend conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Bridgend around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bridgend Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Bridgend.
It has been 2 months following my purchase conveyancing in Bridgend completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I need to retain a conveyancing solicitor for remortgage conveyancing in Bridgend. I have chance upon a web site which seems to have the perfect answer If there is a chance to get all this stuff completed via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a long established estate agency in Bridgend where we see a few flat sales derailed due to short leases. I have received inconsistent advice from local Bridgend conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
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 purchaser.
I invested in buying a split level flat in Bridgend, conveyancing formalities finalised September 2011. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bridgend with an extended lease are worth £207,000. The ground rent is £60 yearly. The lease comes to an end on 21st October 2082
With 57 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to 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.