My family solicitor has sent a quote for £1700 for freehold conveyancing in Tedburn St Mary. I am hoping to sell a modern house for £175,000. Is this expensive? Is it above the norm for conveyancing in Tedburn St Mary?
The quote is fractionally on the expensive side. If you shop around you could decrease the fees slightly by as much as a hundred pounds. That being said, you couldcome to regret opting for an a cheaper solicitor. Don't forget to check that the firm can act for your bank. Do utilise our comparison tool to get a quote a Tedburn St Mary conveyancing firm on the banks member panel which can often include conveyancing solicitors in Tedburn St Mary.
Why do I have to pay up front for conveyancing in Tedburn St Mary?
If you are buying a property in Tedburn St Mary your solicitor will ask you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the sale price then this will be required shortly in advance of exchange of contracts. Any further balance that is due will be payable shortly before completion.
I am looking to buy a flat and require a conveyancing solicitor in Tedburn St Mary who is on the Santander approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Santander in certain locations such as Tedburn St Mary. We dont recommend any particular firm.
We are purchasing a property in Tedburn St Mary. It might be a silly question but how we can trust a solicitor? At some point we have to put money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the sole beneficiary of my late father’s estate and I have everything in my name now, including the my former home in Tedburn St Mary. The Tedburn St Mary property was put into my name in March. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in March. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How practical a view lenders take of it, depend on the bank as this requirement is principally there to capture the purchase and immediately sell or the quick reselling of properties.
I recently had an offer accepted on an apartment in Tedburn St Mary. My mortgage broker suggested a property lawyer. I paid an upfront payment of £200. Shortly after, the lawyer called me sheepishly admitting that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly identified during conveyancing in Tedburn St Mary?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tedburn St Mary. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I work for a busy estate agency in Tedburn St Mary where we have experienced a number of leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Tedburn St Mary conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 buyer.
I bought a split level flat in Tedburn St Mary, conveyancing formalities finalised in 2005. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Tedburn St Mary with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2098
With just 74 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure 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 due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.