My wife and I are buying a flat in Capel St Mary. It might be a silly question but how we can trust a conveyancer? At some point we will need to send money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Forgive me if this question is silly but I am new to the house moving as FTB of a garden flat in Capel St Mary. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Capel St Mary?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s lawyers, and shortly after the monies have arrived, you should be able to collect the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
I have decided to exercise my right to buy my property in Capel St Mary off the council. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
3 months have gone by following my purchase conveyancing in Capel St Mary took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Capel St Mary. 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 are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Capel St Mary
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There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. 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.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Capel St Mary I like with amenity areas and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Capel St Mary suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I need to retain a conveyancing solicitor for residential conveyancing in Capel St Mary. I happened to stumble upon a site which looks to be the ideal offering If it is possible to get all the legals done via web 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?
Expecting to complete next month on a basement flat in Capel St Mary. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Capel St Mary should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? What remedies are open the freeholder should you are in breach of your lease terms? Responsibility to repair and maintain the main walls and foundations. It is important that you know which party is responsible the repair and maintenance of all parts of the block and estate Defining your rights in relation to common areas in the block.By way of example, does the lease permit a right of way over an accessway or hallways? What you can do if an adjoining owner breaches a clause of their lease?
I purchased a basement flat in Capel St Mary, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Capel St Mary with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2102
With 77 years remaining on your lease we estimate the price of your lease extension to range between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other 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 placing reliance on this information without first seeking the advice of a professional.