My previous solicitor has sent a quote for £1700 for no sale no fee conveyancing in Helston. I am looking to sell a modern detached home for £300,000. Are the quoted fees excessive? Is it above what I should be paying for conveyancing in Helston?
The costs illustration is fractionally on the steep side. Where you are content to invest time contrasting costs you may be able to decrease the fees marginally by as much as £125. On the other hand, you couldcome to regret choosing an an untested lawyer. Don't forget to check the firm can act for your mortgage company. Do use our comparison tool to locate a Helston conveyancing company on the lender’s conveyancing panel which can often include conveyancing solicitors in Helston.
As a novice what is the most important number one tip you can impart concerning purchase conveyancing in Helston?
Not many law firms or advisers will tell you this but conveyancing in Helston and elsewhere in Cornwall is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for friction between you and others involved in the transaction. For instance, the vendor, property agent and on occasion your mortgage company. Selecting a law firm for your conveyancing in Helston should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the legal process whose responsibility is to protect your best interests and to keep you safe.
On occasion a third party with a vested interest may attempt to sway you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by suggesting your solicitor is wrong. Or your financial adviser may advise you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties in the conveyancing process.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Helston I like with amenity areas and transport links nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Helston for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
How do I use your search app to select a conveyancing lawyer in Helston on the approved list for my lender?
1st select a mortgage company such as Yorkshire Building Society, Coventry Building Society or Godiva Mortgages Ltd then choose your preferred area for instance Helston. Conveyancing practices in Helston and further afield will then be listed.
In my capacity as executor for the estate of my uncle I am selling a residence in Monmouth but I am based in Helston. My conveyancer (based 300 miles from meneeds me to sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing solicitor in Helston who can attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Helston based
I am attracted to a couple of flats in Helston both have about fifty years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Helston is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Helston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Helston - Examples of Questions you should ask before buying
-
Who takes responsibility for maintaining and repairing the block? It would be sensible to discover as much as possible concerning the managing agents as they can either make your life much easier or a lot more difficult. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the upkeep of the common parts. Don't be shy to ask prospective neighbours what they think of their service. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending that money.