Would the conveyancing lawyers identified via your search tool conduct attended exchange conveyancing in Taunton?
There are a few conveyancing specialists carrying out attended exchanges. Please e-mail us to receive a costs illustration and details as to dates.
It is is a decade since I bought my home in Taunton. Conveyancing solicitors have recently been instructed on the sale but I am unable to track down the title deeds. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be kept by your mortgage company or they may be in the possession of the lawyers who acted in your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Taunton involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
I have been told that property searches are the main cause of obstruction in Taunton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Taunton.
About to purchase a new build apartment in Taunton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Taunton
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
How can the Landlord & Tenant Act 1954 affect my business premises in Taunton and how can you help?
The 1954 Act provides security of tenure to business leaseholders, granting the a statutory right to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Taunton
Can you provide any advice for leasehold conveyancing in Taunton from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Taunton can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives. A minority of Taunton leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Arranging a replacement share certificate can be a lengthy process and frustrates many a Taunton conveyancing transaction. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.
I acquired a 2 bed flat in Taunton, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar properties in Taunton with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2100
With 75 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.