Completed the sale of my flat in Salford last December but our buyer keeps SMS messaging every few hours complaining that his conveyancer is waiting to hear from mysolicitor. What should have happened following completion?
Following your sale your conveyancer is duty bound to send the transfer documentation and all additional paperwork to the buyer’s lawyers. If applicable, your solicitor should also send confirmation that the mortgage has been discharged to the purchasers conveyancers. There are no post completion formalities unique to conveyancing in Salford.
The Salford conveyancing firm that I recently instructed on my purchase in Salford have suddenly shut down. I chose them because I had to have a firm on the Yorkshire BS conveyancing panel and my preferred Salford lawyer was not. I paid them money on account. What do I do now?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
I am buying my first flat in Salford with a loan from Coventry Building Society. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not to tell my lawyer about the extras as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We're new on the property ladder - agreed a price, but the agent has warned us that the vendor will only issue a contract if we appoint their preferred solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Salford
We suspect that the seller is not behind this request. Should the owner desire ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted Salford conveyancing lawyers - rather thanthose that will earn their estate agent a kickback or meet his conveyancing targets set by corporate headquarters.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Salford. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Salford are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Salford so you should seriously consider shopping around for a Salford conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I am the registered owner of a studio flat in Salford, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Salford with over 90 years remaining are worth £195,000. The ground rent is £45 per annum. The lease runs out on 21st October 2089
With only 63 years remaining on your lease we estimate the price of your lease extension to range between £16,200 and £18,600 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
I have recently had an offer accepted on a leasehold flat in Salford and the estate agent that we are using suggested his property lawyer. She quoted £800 plus VAT and 3rd party costs. Does this sound expensive?
You should not rely on one quote. You should obtain like-for-like quotes for your conveyancing in Salford. Then select one that you are comfortable with and crucially, is on the approved list of the bank that you have applied for a mortgage from.