It is a dozen years since I bought my property in Saffron Walden. Conveyancing lawyers have just been appointed on the sale but I am unable to track down the deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be kept by the lender or they may be in the possession of the conveyancers who acted in the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. The vast majority of conveyancing in Saffron Walden involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
What will a local search reveal about the house my wife and I buying in Saffron Walden?
Saffron Walden conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Searchflow The local search plays an important role in most Saffron Walden conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I am looking for a ground for flat up to £235,500 and identified one round the corner in Saffron Walden I like with amenity areas and railway links nearby, however it only has 51 years on the lease. I can't really find anything else in Saffron Walden in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I need to retain a conveyancing solicitor for sale conveyancing in Saffron Walden. I've discover a site which looks to be the ideal offering If there is a chance to get all formalities done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just started marketing my basement flat in Saffron Walden. Conveyancing is yet to be initiated, but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as normal given that all ground rent and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a 2 bed flat in Saffron Walden, conveyancing was carried out May 2009. Can you work out an approximate cost of a lease extension? Equivalent properties in Saffron Walden with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2092
With 67 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Builders have suggested I use a lawyer and I've obtained an estimate from them. They are nearly £400 less expensive than my family Saffron Walden conveyancer. Should I use them?
Builders normally have lists of lawyers who expedite matters and who know the developer’s contract and lawyer. Plenty of developers offer an inducement to select their approved conveyancing practitioner for this reason, any increased fees can be avoided and a developer won't put forward a conveyancing factory and run the risk of having the conveyancing delayed when they demand an exchange within a tight time frame. A counter-argument for not opting for the recommended lawyer is that they may be unwilling to fight for your interests at the risk of alienating the sellers. If you worry that this may be the situation you should remain with your high street Saffron Walden conveyancing practitioner.