2 months have elapsed since my purchase conveyancing in Aberbargoed completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 property 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 Aberbargoed differ for new build properties?
Most buyers of new build property in Aberbargoed contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Aberbargoed typically acquire the real estate, 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 used to new build conveyancing in Aberbargoed or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in Aberbargoed I like with amenity areas and transport links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Aberbargoed suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage that many years will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Am I best advised to go with a Aberbargoed conveyancing solicitor based in the area that I am buying? An old friend can conduct the legal formalities but her office is a couple of hundredkilometers drive away.
The benefit of a local Aberbargoed conveyancing practice is that you can attend the office to sign paperwork, hand in your identification documents and pester them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and in the main were impressed that must trump using an unknown Aberbargoed conveyancing lawyer solely due to them being based in the area.
I am employed by a busy estate agency in Aberbargoed where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Aberbargoed conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease 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 need not have to wait 2 years for a lease extension. 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 buyer.
Leasehold Conveyancing in Aberbargoed - Sample of Queries before buying
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Is there a share of the freehold? The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders benefit from control and even though a managing agent is often retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders. Is anyone aware of any major works anticipated that will likely add a premium to the service costs?
Can you confirm the extent of conveyancing conducted by Aberbargoed conveyancing practices?
In the main Aberbargoed conveyancing companies tend to handle various assistance to domestic and agricultural land owners, vendors, purchasers, freeholders and leaseholders including the following:
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Property sale conveyancing in Aberbargoed and nationwide
Domestic purchase conveyancing in Aberbargoed and also around the country
Staircasing i.e. buying extra shares of a property that has been purchased through a shared ownership scheme Drafting in respect of rights of drainage, services, and access (Easements) Leasehold conveyancing sales and purchases Drafting bespoke leases for individuals needs