AssumingI was to buy a freehold propertyin Coulsdon mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Coulsdon?
Any savings you would achieve would be limited to the disbursement for searches. A solicitor is required to do the vast majority of work - money laundering, correspond with the vendors property lawyer, stamp duty return, register the title etc. You might save a bit for them not needing to register a mortgage but it will not be a lot.
I am the registered owner of a freehold property in Coulsdon but nevertheless pay rent, why is this and what is this?
It is rare for properties in Coulsdon and has limited impact for conveyancing in Coulsdon 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I need some quick conveyancing in Coulsdon as I am under a deadline to complete within one month. Fortunately I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches carried out although no conveyancer would recommend that you don't. With plenty of history conveyancing in Coulsdon the following are instances of issues that can crop up and therefore impact market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I got the keys to my apartment on 2 October and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Coulsdon advises it would be recorded in a couple of weeks. Are properties in Coulsdon uniquely lengthy to register?
As far as conveyancing in Coulsdon registration is no faster or slower than the rest of the country. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry communicate with any third persons or bodies. At present in the region of three quarters of submission are completed within 12 days but some can be subject to longer delays. Registration occurs once the new owner is living at the premises thus 'speed' is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
Completion is due on the sale of our £325,000 apartment in Coulsdon in six days. The management company has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Coulsdon?
Coulsdon conveyancing on leasehold apartments usually requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They are at liberty to levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is demanded if you want to sell the property.
We have reached the end of our tether in trying to purchase the freehold in Coulsdon. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Coulsdon conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Coulsdon residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case was in relation to 3 flats. The unexpired term as at the valuation date was 75 years.
Why do Coulsdon conveyancing fees are higher for leasehold and freehold properties?
When acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control