My best friend’s mother is a conveyancer. I hope that I will receive preferential rates for conveyancing, However if that does not come through, what level of figure should I be expecting for conveyancing in Horsham?
It’s a good idea to look for 3 or more like-for-like conveyancing estimates. Make use of our comparison tool on this site. You will notice that quotes seem to contrast greatly but service levels do differ between property lawyers as is the case with the vast majority of professional services.
The sellers of the house we are purchasing have instructed a conveyancing practitioner in Horsham who has suggested a lock out contract with a non-refundable deposit 10k. Are such agreements sensible?
There are a couple of primary drawbacks with executing a lock out agreement (sometimes termed a shut-out contract) is that it diverts attention away from progressing with the conveyancing process, so unless it requires minimal or no negotiation then it may transpire to be unhelpful. It is not promoted by Horsham conveyancing lawyers for this reason. A supplemental concern is the extent of the remedies available - a jilted buyer is very unlikely to obtain an injunctive ruling by a court to bar the vendor completing the sale to a third party, so the only remedy open via the contract will be the recovery of abortive charges and, in restricted circumstances, the additional payment of damages.
I require fast conveyancing in Horsham as I have an ultimatum to sign on the dotted line in less than one month. Thankfully I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you have the choice not to have searches conducted although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Horsham the following are instances of issues that can be revealed and adversely affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
I have been on the look out for a flat up to £305k and found one near me in Horsham I like with open areas and station nearby, however it only has 52 years unexpired on the lease. There is not much else in Horsham in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I've recently bought a leasehold house in Horsham. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a ground floor flat in Horsham, conveyancing formalities finalised in 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Horsham with over 90 years remaining are worth £206,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 2091
With 66 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My fiance is purchasing a studio flat in Horsham. He was given a quote by the property lawyer connected to the selling agents and it came to £1300 . It was 9 years ago I sold and bought a property and it cost was £500. Have costs really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Horsham searches, land registry fees, etc)