We opted for a local firm for our conveyancing in Roath Park last week. After carefully reading the terms of engagement I seewe are liable for charges even where the conveyance does not complete. Should I ditch them and use an internet firm promoting no move no charge conveyancing in Roath Park?
Generally there is a compromise along the lines that if "No Sale No Fee" is available then the conveyancing charges will generally be more expensive to cover those cases that do not proceed. You should be mindful that these arrangements rarely cover disbursements e.g. Roath Park conveyancing search charges.
Why is leasehold purchase conveyancing in Roath Park costs more?
Roath Park leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Should our conveyancer be raising enquiries regarding flooding during the conveyancing in Roath Park.
Flooding is a growing risk for lawyers conducting conveyancing in Roath Park. There are those who acquire a house in Roath Park, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Roath Park. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to determine whether the premises has historically flooded. In the event that the property has been flooded in past which is not notified by the vendor, then a buyer may commence a claim for damages resulting from an inaccurate response. The buyer’s conveyancers will also conduct an enviro report. This will disclose if there is a recorded flood risk. If so, additional inquiries will need to be conducted.
The deeds to our property are lost. The solicitors who conducted the conveyancing in Roath Park 4 years ago are no longer around. Will I be able to sell the house?
You no longer need to hold title original deeds to evidence that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
I am looking for a flat up to £245,000 and found one round the corner in Roath Park I like with open areas and transport links nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Roath Park for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Jane (my partner) and I may need to rent out our Roath Park ground floor flat temporarily due to a new job. We used a Roath Park conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Roath Park do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I purchased a split level flat in Roath Park, conveyancing having been completed in 2004. How much will my lease extension cost? Corresponding properties in Roath Park with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2089
With just 63 years left to run the likely cost is going to span between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.