As a novice what is the most important advice you can give me regarding purchase conveyancing in Eastney and Southsea?
You may not hear this from too many lawyers but conveyancing in Eastney and Southsea and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is plenty of opportunity for conflict between you and other parties involved in the ownership transfer. For example, the seller, selling agent and on occasion your bank. Choosing a law firm for your conveyancing in Eastney and Southsea an important selection as your conveyancer is your adviser, and is the ONLY person in the legal process whose interest is to act in your best interests and to keep you safe.
There is a worrying creep in the "blame" culture- someone must be blamed for the process being so protracted. You should always trust your conveyancer ahead of all other players when it comes to the legal transfer of property.
My Solicitor in Eastney and Southsea is not listed on the Bank of Scotland Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the Bank of Scotland approved list?
Your options are as follows:
- Complete the purchase with your existing Eastney and Southsea lawyers but Bank of Scotland will need to instruct a lawyer on their list of acceptable firms. This will inevitably rack up the total legal fees as well as cause frustration.
- Find an alternative practitioner to act in the purchase, remembering to check they are on the Bank of Scotland panel
Should commercial conveyancing searches disclose proposed roadworks that could affect a commercial premises in Eastney and Southsea?
Its becoming the norm that commercial conveyancing solicitors in Eastney and Southsea will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Eastney and Southsea. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Eastney and Southsea.
For every commercial conveyancing transaction in Eastney and Southsea it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Eastney and Southsea commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Eastney and Southsea.
3 months have gone by since my purchase conveyancing in Eastney and Southsea 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 premises 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 Eastney and Southsea differ for new build properties?
Most buyers of new build property in Eastney and Southsea contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Eastney and Southsea typically acquire 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 Eastney and Southsea or who has acted in the same development.
I have just started marketing my basement flat in Eastney and Southsea. Conveyancing has not commenced, however I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal as all ground rent and service charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a basement flat in Eastney and Southsea, conveyancing formalities finalised November 2005. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Eastney and Southsea with an extended lease are worth £191,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2078
With just 53 years left to run the likely cost is going to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.