AssumingI was to acquire a straightforward propertyin Culcheth for cash and have no survey and no local authority searches how much would I expect to have to pay for conveyancing in Culcheth?
The only saving you would achieve is the costs for searches. Your lawyer is obliged to do the vast majority of work - money laundering, communicating with the vendors conveyancing practitioner, stamp duty return, register the ownership etc. A marginal saving might be made by not needing to register a mortgage but it won't be meaningful.
I purchased a freehold house in Culcheth but still charged rent, why is this and what is this?
It is rare for properties in Culcheth and has limited impact for conveyancing in Culcheth 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 extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
It has been 2 months following my purchase conveyancing in Culcheth completed. I have checked the Land Registry site which shows that I paid £175,000 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Culcheth. 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 conveyancing.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Culcheth
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared.
What tools are available to identify a Culcheth solicitor on the Halifax conveyancing panel? I drive a motor bike and am happy to travel upto 10kilometers to meet the solicitor.
You can use the search on this website. Please pick a bank and your location and you will see a number of Culcheth conveyancing lawyers located nearest you. We have listed some Culcheth conveyancing firms towards the end of this page and you can contact them to check if they are on the Halifax panel
Can you provide any top tips for leasehold conveyancing in Culcheth from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Culcheth can be bypassed if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Organising a duplicate share certificate is often a time consuming formality and delays many a Culcheth home move. If a new share certificate is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity. Some Culcheth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
I bought a split level flat in Culcheth, conveyancing formalities finalised in 1998. How much will my lease extension cost? Similar flats in Culcheth with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2090
With 65 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.