My fiance’s step-father is a conveyancing practitioner. I am hopeful that I will receive friends and family pricing for conveyancing, but if not, what kind of fees should I be paying for conveyancing in Devon?
It’s a good idea to look for two or three conveyancing quotes. Do use our search tool on this site. Whilst quotes do contrast greatly but service levels do are distinct between solicitors as is the case with most professions.
The owners have very assertive vendors who has insisted on a preliminary agreement with a non-refundable deposit 10k. Are such arrangements appropriate for Devon conveyancing transactions?
This form of contract isn't frequently used in Devon, conveyancers are often inclined to veer clients away from them as they detract from focusing on the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the proprietor has signed an exclusivity agreement they will complete the sale with you. They may breach the agreement if they receive sufficient offer to do so because an aggrieved claimant with the benefit of a lockoutcontract will still be legally obliged to show losses as a consequence of the breach and these may not compare to the extra amount that your vendor may obtain by breaking the contract, however morally shameful the behaviour is.
My wife and I own a 4 bedroom Georgian property in Devon. Conveyancing practitioner acted for me and Santander. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Devon and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing lawyer who conducted the purchase.
I am looking for a flat up to £245,000 and found one close by in Devon I like with a park and railway links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Devon for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I need to instruct a conveyancing solicitor for my conveyancing in Devon. I've land on a web site which seems to have the perfect offering If there is a chance to get all the legals done via web that would be preferable. Do I need to be wary? 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?
I am employed by a reputable estate agent office in Devon where we see a number of flat sales derailed as a result of short leases. I have received conflicting advice from local Devon conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
Leasehold Conveyancing in Devon - Sample of Questions you should consider before Purchasing
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Please note that where the lease has fewer than 80 years it will have adverse implications on the value of the flat. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the premises for a couple of years in order to be legally able to extend the lease. This information is useful as a) areas can cause problems for the building as the communal areas may begin to deteriorate if services are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have all the details Who is in charge of the building?