Just been in touch with my conveyancing solicitor in Cardiff Bay who conducted the legals two years ago requesting a conveyancing costs illustration based on an identical type of home move (a leasehold residence and a freehold premises) of almost identical values with a mortgage from Alliance & Leicester . I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative property lawyer?
The estimate does seem a tad on the high side. Where you are prepared to invest time comparing prices you might trim some of the expense by perhaps a hundred pounds. On the other hand, if you were happy with the service the firm gave you maylive to rue opting for an an untested solicitor. Don't forget to ensure the firm can represent Alliance & Leicester . Do utilise our search tool to select a Cardiff Bay conveyancing firm on the Alliance & Leicester member panel, which can often include conveyancing solicitors in Cardiff Bay.
AssumingI were to buy a simple residential propertyin Cardiff Bay for cash and have no survey and no local authority searches how much would I expect to have to pay for conveyancing in Cardiff Bay?
Any savings you would make will be limited to the costs for searches. A lawyer still got to do everything else - money laundering, correspond with the sellers lawyer, stamp duty submission, register the ownership etc. You might save a bit for them not having to register a charge but it will not be significant.
Have just purchased a probate house at auction in Cardiff Bay. Conveyancing is needed. What is next?
Given that you are now legally committed yourself to purchase you should instruct a conveyancing solicitor quickly as you now have a fast approaching deadline in which to complete the deal. All auction property should have a bespoke legal pack. This should include most,if not all of the documents that your solicitor will need. In the case of leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You need to give this to the conveyancer instructed by you ASAP. Do make sure that you have funds in place to complete the transaction on the set completion date.
I'm the sole beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Cardiff Bay. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the property in May. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Some banks would take a practical view as this requirement is principally there to capture the purchase and immediately sell or the quick reselling of property.
When it comes to lenders such as Lloyds, do Cardiff Bay conveyancing practitioners have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Cardiff Bay?
Many commercial conveyancing solicitors in Cardiff Bay will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Cardiff Bay. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cardiff Bay.
For each commercial conveyancing transaction in Cardiff Bay it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Cardiff Bay commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Cardiff Bay.
I am employed by a busy estate agency in Cardiff Bay where we see a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Cardiff Bay conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner 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. This means that the buyer 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 before, or at the same time as 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.
Leasehold Conveyancing in Cardiff Bay - Sample of Queries Prior to Purchasing
The best form of lease structure is a share of the freehold. In this arrangement the tenants benefit from control and even though a managing agent is often retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Plenty Cardiff Bay leasehold flats will be liable to pay a service charge for the upkeep of the building invoiced on behalf of the management company. If you acquire the property you will have to meet this amount, normally periodically throughout the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a rentcharge to be met annual, this is usually not a exorbitant figure, say approximately £50-£100 but you should to enquire it because occasionally it can be many hundreds of pounds. This question is useful as a) areas could result in problems for the block as the common areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to know about it
New build sellers have suggested I use a property lawyer and I've obtained an estimate from them. It's almost £300 cheaper than my family Cardiff Bay solicitor. What's the catch?
Developers normally have lists of conveyancing practitioners who expedite matters and who know the builder's contract and conveyancer. Plenty of developers offer an inducement to use their approved solicitor for this reason, any increased fees can be avoided and a builder will not suggest a conveyancing factory and run the risk of having the transaction delayed when they want exchange in 28 days. The argument for not opting for the recommended conveyancer is that they may be hesitant to fight for your interests at the risk of upsetting the sellers. Where you have concerns that this may be the case you should stick with your high street Cardiff Bay conveyancing practitioner.