Me and my wife are acquiring our first property. Our property lawyer has contact usto see if we want to take out supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Montacute
The quantity and type of Montacute conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your familiarity of the locality and risks, your overall appetite to risk. What is important is that you properly understand what information the searches could give you. Then you can make a decision if you personally think you need that search. Where you are uncertain, ask the conveyancing practitioner to explain.
It is is a decade since I acquired my property in Montacute. Conveyancing lawyers have just been retained on the sale but I am unable to find the title documents. Is this a problem?
Don’t worry too much. First the deeds may be retained by the mortgage company or they may be in the possession of the solicitor who handled the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Montacute involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
There is lots of information on this site about conveyancing in Montacute but can you isolate your top tip for selecting the right conveyancer in Montacute
We would encourage you not to base your choice on the lowest Montacute conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
A relative pointed out to me me that in purchasing a property in Montacute there could be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of a number of properties in Montacute which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Montacute should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the only recipient of my late mum's estate and I have everything in my name alone, including the house in Montacute. The Montacute property was put into my name in July. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be treated the same way as though I had purchased the property in July. Do I have to wait 6 months to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. many banks would take a pragmatic view as this requirement is primarily there to capture the purchase and immediately sell or the flipping of property.
I am downsizing from my property. My previous conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Montacute if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Montacute. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
We're FTB’s - had an offer accepted, but the estate agent advised that the vendor will only issue a contract if we use their chosen solicitors as they want a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Montacute
It is unlikely the vendors are driving this. Should the seller require ‘a quick sale', taking such a hostile approach to a serious buyer is likely to cause more damage than good. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you are going to appoint your preferred Montacute conveyancing firm - not the ones that will earn their estate agent a kickback or hit his conveyancing figures demanded by corporate headquarters.
I am employed by a long established estate agency in Montacute where we see a number of flat sales jeopardised due to short leases. I have received contradictory information from local Montacute conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
Leasehold Conveyancing in Montacute - A selection of Questions you should ask before Purchasing
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Is there a share of the freehold? Please inform me if there are any major works on the horizon that could increase the service costs? Please note that where the lease has fewer than 80 years it will affect the value of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension at some point and it is worth finding out how much this will be. For most Montacutelease extensions you would need to own the residence for two years before you are eligible to extend the lease.