Me and my partner are due to complete buying a property in Burnham but as a consequence of wreckage from the recent storms I have managed to agree reparation from the vendor of £2k taking the form of a deduction in the price. I had intended this to be addressed as part of amending the contract however Co-operative will not permit this. Should they have been notified?
Any property lawyer that is on the Co-operative conveyancing panel is required to disclose to Co-operative of any changes to the purchase price. If you prohibit your conveyancing practitioner to report the price change to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new conveyancing practitioner for your conveyancing in Burnham.
As someone unfamiliar with the Burnham conveyancing process what is the number one tip you can give me concerning the legal transfer of property in Burnham
Not many law firms shout this from the rooftops but conveyancing in Burnham and elsewhere in Buckinghamshire is an adversarial process. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and others involved in the ownership transfer. For example, the seller, estate agent and sometimes the mortgage company. Choosing a law firm for your conveyancing in Burnham an important selection as your conveyancer is your adviser, and is the SOLE person in the legal process whose responsibility is to protect your legal interests and to keep you safe.
Sometimes a third party with a vested interest will try and sway you that you should follow their advice. For instance, the selling agent may claim to be helping by suggesting your solicitor is wrong. Or your financial adviser may try to convince you to do take action that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
four months have gone by following my purchase conveyancing in Burnham concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 premises 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.
Due to the guidance of my in-laws I had a survey completed on a property in Burnham prior to appointing solicitors. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may not give a mortgage on such a property.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Burnham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am employed by a reputable estate agency in Burnham where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Burnham conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 has to be done before, or simultaneously with 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.
I own a 2 bed flat in Burnham, conveyancing having been completed May 2012. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Burnham with an extended lease are worth £165,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2102
With 77 years unexpired the likely cost is going to be between £7,600 and £8,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues 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 seeking the advice of a professional.
Is it true that a Burnham conveyancing firm has court proceedings brought against them by a client for failing to conduct the right conveyancing searches?
We are not aware of such a Burnham conveyancing matter but according to a recent report, a couple buying a house elsewhere in England successfully sued their conveyancing practitioner as a consequence of development permission to erect a wind farm not being identified in conveyancing searches.
Where you are purchasing in Burnham It is important that your conveyancing practitioner conduct all Burnham conveyancing searches necessary making sure that you have relevant and current information before purchasing a home in Burnham.