Last August we completed a house move in Gowerton. We have since encountered a number of issues with the property which we consider were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been carried out as part of conveyancing in Gowerton?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Gowerton. Conveyancing searches and investigations undertaken as part of the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a property owner fills in a form called a SPIF. If the information turns out to be incorrect, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Gowerton.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Gowerton?
There are many registered licenced Conveyancers in Gowerton and Solicitor partnerships in Gowerton offering conveyancing We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. The two can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am currently in the process of buying my council flat in Gowerton. I have a mortgage agreed with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
After shopping around on the internet I have found a Gowerton property lawyer having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Gowerton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Arc property Solicitors a few years past for my conveyancing in Gowerton. I now require my papers however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Gowerton of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a flat up to £305k and found one near me in Gowerton I like with amenity areas and station nearby, however it's only got 51 years unexpired on the lease. There is not much else in Gowerton suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
My company is intending to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering no-sale-no fees for commercial conveyancing in Gowerton for under £2000?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Gowerton, including the sale and purchase of businesses as well as simply property. Whether you are looking to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right lawyer. Regarding the costs these will vary based on the structure and complexity of the deal. Please provide us with your details or telephone so as to enable us to supply you with a fixed commercial conveyancing quote.
I am employed by a reputable estate agency in Gowerton where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Gowerton conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as 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 proposed purchaser can avoid having to wait 2 years for a lease extension. 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 disposal of the property.
An alternative approach is 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 buyer.
I purchased a split level flat in Gowerton, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Gowerton with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2098
With just 73 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.