Would the conveyancing lawyers that you recommend conduct auction conveyancing in Colyton?
There are a few niche practitioners we can connect you with those conducting auction conveyancing. Colyton is one of hundreds of locations in which our lawyers have offices.
My wife and I are close to exchanging contracts on the sale of our home in Colyton and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used an online conveyancing outfit as opposed to a conveyancing solicitor in Colyton. Having lived in Colyton for many years we know that this is a non issue. Should we contact our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
4 months have gone by following my purchase conveyancing in Colyton took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 property 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.
How does conveyancing in Colyton differ for new build properties?
Most buyers of new build premises in Colyton approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Colyton typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Colyton or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Colyton I like with amenity areas and railway links in the vicinity, however it's only got 49 years on the lease. There is not much else in Colyton suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Colyton. Conveyancing advisers have not yet been instructed. Will they explain the issues?
The majority of houses in Colyton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Colyton so you should seriously consider shopping around for a Colyton conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.
I bought a split level flat in Colyton, conveyancing was carried out January 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Colyton with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease finishes on 21st October 2081
You have 56 years left to run we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.