I was referred a lawyer who has sent a quote for £1150 for freehold conveyancing in Salford. I am hoping to downsize from a modern detached home for £150,000. Is this overpriced? Is it in excess of the norm for conveyancing in Salford?
The estimate does seem a tad overpriced. If you are happy to spend time contrasting charges you may be able to shave off some of the expense by perhaps a hundred pounds. That being said, you mightcome to rue opting for an an untested lawyer. Remember to ensure that the conveyancer can act for your mortgage company. You can use our search tool to get a quote a Salford conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Salford.
Should conveyancers request money up-front for conveyancing in Salford?
If you are buying a property in Salford your lawyer will request that you to provide them with funds to cover the search fees. Ordinarily this is requested to cover the fees of the conveyancing searches. When the deposit is payable against the total price then this will be asked for shortly ahead of contracts are exchanged. Any further balance that is due should be sent to your lawyer shortly before completion.
My bid for a property was accepted at auction in Salford. Conveyancing is needed. What is next?
Given that you are now to in every practical sense signed on the dotted line you now have to retain a conveyancing practitioner as a matter of urgency as you will have a tight deadline in which to complete the property. All auction property will have an associated auction set of papers. This will include most,if not all of the paperwork that your solicitor requires. If you have purchased leasehold property the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You must pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds in place to complete the transaction on the set completion date.
I am selling my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being difficult. The Salford solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what seems like an age I have had an offer on a maisonette in Salford agreed to, but there is a chain. The vendors have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other flats booked. I have instructed a nearby conveyancing solicitor in Salford. What should be my next step? When do I get the mortgage application with UBS going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Salford conveyancing search costs, etc). The first course of action is to ensure that your property lawyer is on the UBS conveyancing panel. Concerning the next stages this very much dictated by the uniqueness of your transaction, desire for this property and on the state of the market. In a rising market the majority of purchasers would apply for a home loan with UBS and arrange for the valuation and only if it comes back ok would they pay their conveyancer to proceed with the conveyancing in Salford.
Are there restrictive covenants that are commonly identified as part of conveyancing in Salford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Salford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Salford is where the house is located. Can you offer any guidance?
Flying freeholds in Salford are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Salford you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Salford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I work for a long established estate agent office in Salford where we see a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Salford conveyancing firms. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a 1st floor flat in Salford, conveyancing having been completed January 1997. Can you work out an approximate cost of a lease extension? Comparable properties in Salford with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2095
With 70 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to 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.