We are soon to complete on the purchase of a property in Caerwent but as a consequence of damage from the recent storms I have managed to agree recompense from the seller of £2k by way of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process but Coventry BS will not agree to this. Why were they informed?
Any property lawyer being on a Coventry BS approved list is required to advise Coventry BS of any variations to the purchase price. If you prohibit your lawyer to disclose the reduction to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new conveyancer for your conveyancing in Caerwent.
I am the registered owner of a freehold premises in Caerwent but nevertheless charged rent, why is this and what is this?
It is rare for properties in Caerwent and has limited impact for conveyancing in Caerwent but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
It has been 4 months following my purchase conveyancing in Caerwent completed. I have checked the Land Registry site 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 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.
About to purchase a new build apartment in Caerwent. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Caerwent
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There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
What is different about your site and alternative online quote calculators when it comes to conveyancing in Caerwent?
At this site obtain a conveyancing quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Caerwent. As opposed to estate agents and many comparison sites we do not have commission arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the highest commission, not the best value conveyancing in Caerwent
I am on look out for some leasehold conveyancing in Caerwent. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Caerwent - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a 1 bedroom flat in Caerwent, conveyancing having been completed September 1998. Can you work out an approximate cost of a lease extension? Corresponding flats in Caerwent with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2100
You have 75 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures 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 getting professional advice.