We opted for a high street solicitor for our conveyancing in Fairwater recently. Reviewing the fine print it is apparent thatI am on the hook for costs even if the dealdoes not happen. Would I be best advised to use a web based lawyer promoting no move no charge conveyancing in Fairwater?
Generally there is a compromise along the lines that if "No Sale No Fee" is advertised then the fee levels will generally be uplifted to neutralise the conveyances that fail to complete. You should be mindful that these arrangements tend not to cover expenditure for example Fairwater conveyancing search charges.
We just had an offer accepted to buy with Norwich and Peterborough Building Society. We have called around locally yet am struggling to find a Fairwater conveyancing firm on the Norwich and Peterborough Building Society panel. Could you assist?
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Please choose the lender and type Fairwater or your location and you will be presented with numerous conveyancers located in Fairwater or nearest you.
My relative advised me that where I am purchasing in Fairwater I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Fairwater conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Fairwater around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Fairwater Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Fairwater Education with maps and statistics, Local Amenities and other useful information regarding Fairwater.
How does conveyancing in Fairwater differ for new build properties?
Most buyers of new build property in Fairwater come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Fairwater typically buy 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 conveyancing solicitors 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 accustomed to new build conveyancing in Fairwater or who has acted in the same development.
I am a negotiator for a reputable estate agency in Fairwater where we see a few flat sales jeopardised due to short leases. I have been given conflicting advice from local Fairwater conveyancing firms. Could you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. 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.
An alternative approach is 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.
I am the registered owner of a basement flat in Fairwater, conveyancing having been completed in 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Fairwater with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2101
You have 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
Partway through the sale of a leasehold flat in Fairwater. Conveyancing is fine but we are being charged a fortune from the freeholder. So far we have paid £295.50 for a leasehold management information and then a further £117.20 for answers to questions raised by the purchaser's conveyancer.
Your lawyer will unlikely have any sway over the level of the bill for this information but the typical fee for the information for Fairwater leasehold property is £395. When it comes to Fairwater conveyancing deals it is customary for the owner to cover the costs. The freeholder or their agents are not duty bound to address these questions although many will agree to do so - albeit often at high prices out of proportion to the work involved. Unfortunately there is no legislation that requires capped fees for administrative tasks. There is no set time frame by which they are duty bound to issue the information.