It has been 3 months following my purchase conveyancing in Shiremoor completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Shiremoor differ for newly converted properties?
Most buyers of new build residence in Shiremoor approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Shiremoor tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Shiremoor or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Shiremoor is where the house is located. Is there any advice you can impart?
Flying freeholds in Shiremoor are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shiremoor you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shiremoor may decide 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 premises.
What does commercial conveyancing in Shiremoor cover?
Non domestic conveyancing in Shiremoor incorporates a wide range of guidance, offered by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Due to exchange soon on a ground floor flat in Shiremoor. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Shiremoor should include some of the following:
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Does the lease prohibit wood flooring? Where does the liability rest for maintaining the window frames Where does the liability rest to repair and maintain the building. It is essential that you know which party is liable for the repair and maintenance of all parts of the block and estate What options are available to the landlord where you have breached the provisions of the lease?
I bought a split level flat in Shiremoor, conveyancing formalities finalised September 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Shiremoor with over 90 years remaining are worth £192,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2079
With only 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
I was informed by my lender that their panel conveyancers operate no completion no fee basis for conveyancing in Shiremoor. Our purchase aborted yet the conveyancers have requested search fees! They are claiming that the fees are nothing to do with their fees!
in promising "no sale no fee" Shiremoor conveyancing practices are foregoing their fees for any work conducted. We must stress this is NOT an insurance scheme. Disbursements aren’t covered – where the property lawyer have to pay money out to third parties, for example Shiremoor local search fees