My partner’s brother is a conveyancing practitioner. I anticipate that I will receive mate’s rates for conveyancing, but if not, what kind of fees should I be expecting for conveyancing in Wareham?
It’s sensible to look for two or three conveyancing estimates. Do use our comparison tool on this site. You will notice that fees seem to be different but the service one can expect differ between solicitors as is the case with most professions.
IfI were to purchase a straightforward propertyin Wareham mortgage fee and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Wareham?
Any savings you would gain would be limited to the costs for searches. The solicitor still be obliged to do everything else - money laundering, liaising with the vendors conveyancing practitioner, stamp duty submission, register the property etc. You might save a bit for them not having to register a charge but it will not be a lot.
As a FTB what is the most important piece of guidance you can give me concerning purchase conveyancing in Wareham?
You may not hear this from too many lawyers but conveyancing in Wareham or throughout Dorset is an adversarial process. Put another way, when it comes to conveyancing there is plenty of opportunity for conflict between you and other parties involved in the ownership transfer. For instance, the vendor, selling agent and sometimes your lender. Selecting a solicitor for your conveyancing in Wareham is a critical decision as your conveyancer is your adviser, and is the ONLY party in the process whose role it is to protect your best interests and to protect you.
On occasion a third party with a vested interest may try and persuade you that you should follow their advice. As an example, the property agent may claim to be helping by claiming that your solicitor is wrong. Or your financial adviser may tell you to do something that is against your conveyancers guidance. You should always trust your lawyer above all other parties in the home moving process.
I am purchasing a right to buy a flat in Wareham. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Wareham you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Wareham.
2 months have elapsed following my purchase conveyancing in Wareham concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 asset 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.
I am employed by a long established estate agency in Wareham where we see a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Wareham conveyancing firms. Can you clarify whether the seller 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have 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 sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
I own a studio flat in Wareham, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Wareham with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2079
With only 54 years remaining on your lease we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.