I have given 8 weeks notice to my existing landlord and must vacate my rented flat in North Walsham by the end of next month. Conveyancing for my house purchase is progressing. How realistic is it to complete in a couple of weeks as don't want to have to move into short term accommodation?
Generally one should not serve notice on a rental until exchange of contracts has taken place. Assuming that you have not previously done so, speak to your lawyer and ask them to they seek the assistance the owners solicitors, try to get a realistic time scale from them that all parties will aim towards
It has been five months since my purchase conveyancing in North Walsham concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in North Walsham differ for new build properties?
Most buyers of new build or newly converted property in North Walsham come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because builders in North Walsham 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 North Walsham or who has acted in the same development.
I am looking for a flat up to £235,500 and identified one near me in North Walsham I like with a park and transport links in the vicinity, however it's only got 61 years on the lease. There is not much else in North Walsham for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
In searching the world wide web for the term on line conveyancing in North Walsham it shows results of many solicitorslocally. How do I determine which is the suitable conveyancer for the sale of my house?
The ideal way of choosing the right conveyancer is through a personal recommendation, so seek the guidance of friends and family who have purchased a property in North Walsham or a respected estate agent or financial adviser. Charges for conveyancing in North Walsham differ, so it's sensible to secure at least three quotes from different property lawyers. Make sure that you know that the charges are assured not to rise.
I am looking at a couple of flats in North Walsham both have in the region of 50 years left on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorates and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area.
I bought a 1st floor flat in North Walsham, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding flats in North Walsham with over 90 years remaining are worth £211,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2092
With only 67 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.