Why would one use a Drakes Cross conveyancing company given that online alternatives are easier on the wallet?
By all means make sure that you compare conveyancing costs in Drakes Cross and you should seek a reasonable fee calculation but don’t be focused with looking for the cheapest Drakes Cross conveyancer. Locating the right conveyancer can be the distinction between a smooth and a stressful move. It is important that you ensure that you have expert advice from a trusted solicitor. Emails can't take the place of a phone conversation and are no substitute for a one to one meeting. Our partner firms will appoint you a qualified and experienced conveyancing solicitor that will deal with your conveyancing from beginning to end, giving the sort of hand holding that you are unlikely to received from an online conveyancer. Our lawyers will keep you updated as to any developments and keep you informed. Should you need to phone the office you will be sure who you need to speak to and we'll be sure you're not left wondering what's going on.
It has been 3 months following my purchase conveyancing in Drakes Cross completed. I have checked the Land Registry website 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 residence 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 Drakes Cross differ for new build properties?
Most buyers of new build or newly converted property in Drakes Cross contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Drakes Cross tend to acquire the site, 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 Drakes Cross or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Drakes Cross I like with open areas and station in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Drakes Cross for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
Am I right to be concerned by brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a local Drakes Cross conveyancing firm?
As is the case with lots of professional services, often recommendations from connections can be very helpful. Yet there are many parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all suggest conveyancers to select. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You have the right to select your own lawyer. However, bear in mind that most banks specify a panel list of solicitors you have to use for the lender aspect of your house move.
I am employed by a long established estate agent office in Drakes Cross where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Drakes Cross conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
Drakes Cross Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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How is the lease structured? The majority of Drakes Cross leasehold flats will be liable to pay a service charge for the upkeep of the block levied on behalf of the management company. Where you buy the apartment you will have to pay this contribution, normally in instalments during the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a exorbitant sum, say around £25-£75 but you should to check as sometimes it can be many hundreds of pounds. The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this situation the leaseholders have control and notwithstanding that a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.