We selected a Norwich based firm for our conveyancing in Norwich yesterday. After carefully reading the Terms and Conditions it is apparent thatI am responsible for costs even if the sale doesn't happen. Should I ditch them and select a web based conveyancing company promising no-sale-no-fee conveyancing in Norwich?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the conveyancing charges will tend to be be uplifted to neutralise the transactions that abort. Dont forget that these arrangements rarely protect you from expenditure by way of example Norwich conveyancing search costs.
I am acquiring a property without a mortgage in Norwich. I have been residing for the previous twelve years in Norwich. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
If you not getting a mortgage, then almost all of the Norwich conveyancing searches are at your discretion. Your lawyer will try and sway you, perhaps strongly, that you should have searches carried out, but he is duty bound to take that path of encouragement . Do bear in mind; if you are intend to sell the house in the future, it may be of importance to your future buyer what the searches contain. On occasion premises with no practical issues can still show up unexpected search results. A good conveyancing solicitor in Norwich will be able to give you some constructive advice here.
four months have elapsed since my purchase conveyancing in Norwich concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 premises 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 Norwich differ for new build properties?
Most buyers of new build residence in Norwich contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Norwich usually acquire the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Norwich or who has acted in the same development.
Due to exchange soon on a basement flat in Norwich. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Norwich should include some of the following:
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Whether your lease provides for a slush account for major repairs? Information as to the provision as set out in the lease to to contribute towards maintenance costs - in respect of the block, and the more general rights a leaseholder enjoys Details of the parties to the lease, e.g. these could be the (you), head lessor, landlord Where does the liability rest to repair and maintain the main walls and foundations. It is essential that you know which party is liable for the repair and maintenance of every part of the building Your lawyers should enable you to have an understanding of the insurance obligations
I am the registered owner of a 1st floor flat in Norwich, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Norwich with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced annually. The lease ends on 21st October 2080
With 56 years unexpired we estimate the premium for your lease extension to range between £29,500 and £34,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs 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 issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I am hoping to acquire a repossessed flat in Norwich and the vendor would like to complete inside 28 days. Do lawyers complete in this timeframe? Would it be better to use a high street Norwich firm or an online organisation that advertises to complete quickly?
Attend your Norwich high street. Go in to a couple of companies and request to see a conveyancing solicitor for a quote. Discuss your needs and get a commitment on speed. Select the one that comes across as most efficient. You need to choose a conveyancer on the list of lawyers who can act for your lender.