We note that you have a post code search directory listing solicitors on the Principality conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Colchester?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Colchester.
Various online forums that I have frequented warn that are the number one reason for hinderance in Colchester house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Colchester.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Colchester I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Colchester for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage that many years will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
My company is looking to lease a unit on the high street. Can you recommend solicitors offering no-move-no costs for non-domestic conveyancing in Colchester for below 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Colchester, including the sale and acquisition of businesses as well as simply premises. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we will find you the right firm. Regarding the fees these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your details or email so as to enable us to provide you with a fixed commercial conveyancing quote.
In surfing the world wide web for the term conveyancing in Colchester it reveals many solicitorsin the area. How do I determine which is the suitable property lawyer for me?
The preferential way of choosing the right conveyancer is through a trusted referral, so ask colleagues and relatives who have acquired a property in Colchester or a local estate agent or financial adviser. Fees for conveyancing in Colchester vary, so it's a good idea to request at least three costs illustrations from varying types of property lawyers. Be sure to secure confirmation that the charges are assured not to increase.
I am a negotiator for a busy estate agency in Colchester where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Colchester conveyancing firms. Can you confirm whether the seller of a flat can initiate 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having 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 sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Colchester Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing
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What is the yearly service fee and ground rent? Can you inform me if there are any major works anticipated that could add a premium to the maintenance costs? You should be aware that where the lease has less than eighty years it will impact the marketability of the property. It is worth checking with your bank that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will need to own the residence for a couple of years in order to be legally able to extend the lease.