Me and my partner are soon to complete buying a house in Sherwood but as a consequence of damage from the recent storms I have managed to agree recompense from the owner of £2k in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process however Yorkshire BS will not permit this. Why were they approached?
The property lawyer that is on a Yorkshire BS approved list is required to disclose to Yorkshire BS of any changes to the purchase price. If you prohibit your conveyancing practitioner to disclose the reduction to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new conveyancer for your conveyancing in Sherwood.
Should conveyancers ask for money on account for conveyancing in Sherwood?
If you are buying a property in Sherwood your lawyer will request that you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the purchase price then this should be needed shortly ahead of contracts are exchanged. The closing balance that is needed will be payable a couple of days ahead of the day of completion.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Sherwood is the location of the property. Can you offer any advice?
Flying freeholds in Sherwood are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sherwood you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sherwood 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 residence.
Taking into account that I am about to part with £400,000 on 3 bedroom house in Sherwood I would like to talk to a conveyancer about myhome move prior to giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be pleased to talk to you we do not take any clients on without you speaking to the conveyancer who will be doing your conveyancing in Sherwood.There is no ‘factory style conveyancing’ - each client is unique individual, not a case reference. The practices that we put you in touch with believe that the figure you are provided with for your conveyancing in Sherwood should be the figure that you are charged.
We're novice buyers - agreed a price, yet the property agent advised that the seller will only go ahead if we instruct the agent's recommended lawyers as they want a ‘quick sale’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Sherwood
We suspect that the seller is not behind this ultimatum. Should the seller want ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your own,trusted Sherwood conveyancing lawyers - as opposed tothe ones that will provide their negotiator at the agency a introducer fee or hit his conveyancing targets pre-set by senior management.
Having had my offer accepted I require leasehold conveyancing in Sherwood. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Sherwood - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a studio flat in Sherwood, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Sherwood with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease terminates on 21st October 2083
With only 58 years remaining on your lease we estimate the premium for your lease extension to range between £23,800 and £27,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.