My best friend’s brother is a property lawyer. I hope that I'll be able to get friends and family pricing for conveyancing, but if not, what kind of fees would I typically be looking at for conveyancing in Shropshire?
It’s a good idea to request 3 or more like-for-like conveyancing quotes. Do use our search tool on this site. You will notice that charges do vary but service levels do are distinct between conveyancers as is the case with the vast majority of professional services.
I require conveyancing for a flat in a fairly new development (seven years built) in Shropshire. 95% of the flats have already been sold. Is it really necessary to order local searches as part of conveyancing in Shropshire?
You would be opening yourself up to an unnecessary risk in failing carrying out Shropshire conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in no uncertain terms that you have them. If accelerating the process and driving down costs are primary issues you should consider with your solicitor about the options such as lack of search insurance available to you
Can you explain why leasehold purchase conveyancing in Shropshire costs more?
Shropshire leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Should our solicitor be asking questions about flooding as part of the conveyancing in Shropshire.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Shropshire. There are those who buy a house in Shropshire, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a various checks that may be initiated by the purchaser or by their conveyancers which should figure out the risks in Shropshire. The standard completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to find out if the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a purchaser could commence a claim for damages resulting from an inaccurate answer. The purchaser’s conveyancers may also carry out an environmental report. This will disclose if there is a recorded flood risk. If so, more detailed investigations should be initiated.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Shropshire I like with amenity areas and railway links in the vicinity, however it's only got 49 years on the lease. There is not much else in Shropshire suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Shropshire. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Shropshire are freehold and not leasehold. In this scenario it’s worth 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 Shropshire so you should seriously consider looking for a Shropshire conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
I bought a basement flat in Shropshire, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Shropshire with an extended lease are worth £185,000. The ground rent is £65 per annum. The lease runs out on 21st October 2085
With only 60 years left to run we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.