Please explain the implications if my solicitor is suspended from the TSB Solicitor panel ahead of completing my conveyancing in Burnham On Sea?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am assisting my aunt sell her property in Burnham On Sea. Will the solicitor commission an energy assessment or it is for me to coordinate?
Following the demise of Home Information Packs, energy performance certificates remained a required part of moving house. An EPC must be to hand in advance of the property being advertised. This is not a task that lawyers ordinarily organise. Where you are using a Burnham On Sea conveyancing solicitor they might be willing to arrange energy performance certificates given their contacts with long established local assessors
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Burnham On Sea. Do I collect the keys to the house on completion from my conveyancer? If so, I will instruct a local conveyancing solicitor in Burnham On Sea?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you will be able to collect the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
Our offer on a detached house in Burnham On Sea has been accepted, the owners do however have a tied purchase. The owners have put an offer on a property, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have selected a local conveyancing solicitor in Burnham On Sea. What should be my next step? At what point do I apply for the mortgage with Lloyds?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then valuation, Burnham On Sea conveyancing search costs, etc). First, you should check that your lawyer is on the Lloyds approved list. Regarding the next stages this very much depends on the uniqueness of your case, motivation for the property and on the state of the market. In a hot market some purchasers will apply for the mortgage with Lloyds and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to press on with the conveyancing in Burnham On Sea.
I require fast conveyancing in Burnham On Sea as I have an ultimatum to sign on the dotted line in less than 4 weeks. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at free not to do searches although no law firm would advise that you don't. Drawing on our experience of conveyancing in Burnham On Sea the following are instances of what can be revealed and adversely impact the marketability of the property: Enforcement Actions, Overdue Charges, Outstanding Grants, Railway Schemes,...
I have a semi-detached Victorian house in Burnham On Sea. Conveyancing lawyer acted for me and Barclays Direct. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burnham On Sea and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Burnham On Sea. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Burnham On Sea
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I have just appointed agents to market my ground floor flat in Burnham On Sea. Conveyancing is yet to be initiated, but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as you normally would as all ground rent and service charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a 1st floor flat in Burnham On Sea, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Burnham On Sea with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2093
With only 69 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.