The solicitor who dealt with my former purchase has quoted £995 for freehold conveyancing in Highbridge. I am looking to sell a purpose built detached home for £250,000. This seems too much. Is it above the average fee for conveyancing in Highbridge?
The quote is slightly on the expensive side. If you are willing to spend time comparing costs you might shave off some of the expense by perhaps a hundred pounds. That being said, you maylive to rue opting for an a cheaper lawyer. If is important to be sure the solicitor can act for your bank. Do make use of our search tool to select a Highbridge conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Highbridge.
How does conveyancing in Highbridge differ for newly converted properties?
Most buyers of new build property in Highbridge come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Highbridge tend to buy the land, 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 conveyancers 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 Highbridge or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Highbridge is the location of the property. Can you shed any light on this issue?
Flying freeholds in Highbridge are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Highbridge you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Highbridge may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking into buying my first house which is in Highbridge and I am already nervous. I couldn't find anything specific about Highbridge. Conveyancing will be needed in due course but do you know about the Highbridge area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Highbridge. In the meantime here are some basic statistics that we found
I am looking at a two flats in Highbridge which have about 50 years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Highbridge. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area.
I own a studio flat in Highbridge, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Highbridge with a long lease are worth £197,000. The ground rent is £55 per annum. The lease runs out on 21st October 2079
With only 54 years left to run we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as professional fees.
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 in the absence of detailed due diligence. 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 considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I'm selling a apartment in Highbridge. I can find my conveyancer's company on the CLC list, but I can't locate my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the company must be listed by the regulator. Provided there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unlicensed staff.