AssumingI was to purchase a freehold homein Woodley for cash and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Woodley?
Any savings you would gain will be limited to the disbursement for searches. A solicitor is required to do the vast majority of work - money laundering, liaising with the sellers lawyer, SDLT return, register the property etc. You might save a bit for them not having to register a mortgage however it will not be a lot.
In what way does my ID and proof of funds have anything to do with my conveyancing in Woodley? What am I being asked for?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Woodley. However these days you will not be able to complete any conveyancing deal in the absence submitting proof of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are supplying your driving licence as evidence of ID it must be both the paper section as well as the photo card part, one is not acceptable without the other.
Verification of your origin of funds is mandated under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor must have this information on file. Your Woodley conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask additional queries concerning the source of monies.
Despite weeks of looking the Title Certificate and documents to our home are lost. The solicitors who conducted the conveyancing in Woodley 10 years ago have long since closed. Will I be able to sell the house?
Gone are the days when you need to have the physical original deeds to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
I am buying a new build apartment in Woodley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Woodley
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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? Please supply a car parking plan.
My husband and I are FTB’s - agreed a price, but the selling agent advised that the vendor will only proceed if we use the agent's recommended conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a family conveyancer who is familiar with conveyancing in Woodley
It is improbable the vendors are driving this. Should the vendor desire ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your own,trusted Woodley conveyancing lawyers - not the ones that will give the estate agent a kickback or hit his conveyancing targets demanded by head office.
I am a negotiator for a busy estate agency in Woodley where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Woodley conveyancing firms. Can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
Woodley Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Is there a share of the freehold? What is the name of the managing agents? Is anyone aware of any major works in the near future that could add a premium to the maintenance costs?