Me and my partner are buying our first property. The lawyer has texted usto enquire if we want to purchase extra conveyancing searches. We are really unsure what's necessary for conveyancing in Box
The scope of Box conveyancing searches depends entirely on the premises, the location, the likelihood of any of these risks, your familiarity of the locality and risks, your overall appetite to risk. What matters is that you adequately comprehend what information each search could give you. Then you can decide if you personally think you need that information. Where you are in doubt, ask the property lawyer to advise.
It is a dozen years since I acquired my house in Box. Conveyancing solicitors have now been retained on the sale but I can't find my deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be kept by the lender or they could be in the possession of the conveyancers who handled your purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Box involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
If you had a top tip for selecting a conveyancing solicitor in Box what would it be?
We would encourage you not to go for the lowest Box conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am currently in the process of buying my council flat in Box. I have a mortgage offer with Nottingham. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
About to purchase apartment in Box. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Box property lawyer is on the UBS conveyancing panel.
About to purchase a new build apartment in Box. Conveyancing is daunting 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.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Box
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 control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Box is where the house is located. Is there any guidance you can impart?
Flying freeholds in Box are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Box you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Box may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have just started marketing my 2 bed flat in Box. Conveyancing lawyers have not yet been instructed, however I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as usual as all rents and service invoices will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a studio flat in Box, conveyancing was carried out 10 years ago. How much will my lease extension cost? Corresponding flats in Box with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2091
You have 68 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.