I was recommended to a solicitor who has sent a quote for £1700 for no move no fee conveyancing in Chelmsford. I am selling a purpose built property for £300,000. Are these estimated fees excessive? Is it above the norm for conveyancing in Chelmsford?
The charges are a little high. Where you are willing to spend time scrutinising costs you could decrease the fees slightly by say £100 plus VAT. That being said, you mightcome to rue choosing an an untested conveyancer. Remember to enquire the solicitor can act for your bank. Do use our comparison tool to locate a Chelmsford conveyancing practice on the banks member panel which can often include conveyancing solicitors in Chelmsford.
I am due to complete on the purchase of a house in Chelmsford but as a consequence of damage from some water damage at the property I have managed to agree reparation from the vendor in the sum of £2k by way of a reduction in the price. I had intended this to be dealt with as part of amending the contract however Leeds Building Society are not allowing this. Why were they involved?
Any conveyancing practitioner that is on the Leeds Building Society conveyancing panel is required to inform Leeds Building Society of any variations to the sale price. If you prohibit your property lawyer to report the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new solicitor for your conveyancing in Chelmsford.
It is 10 years ago since I bought my property in Chelmsford. Conveyancing solicitors have now been retained on the sale but I am unable to locate the deeds. Is this a major issue?
Don’t worry too much. Firstly there is a chance that the deeds will be with your lender or they may be in the possession of the solicitor who oversaw your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in Chelmsford relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
My brother has recommend that I use his conveyancers in Chelmsford. Should I find my own property lawyer?
There are no two ways about it the best way to find a conveyancing practitioner is to get recommendations from friends or family who have actually used the solicitor that you are contemplating using.
I am looking at a couple of apartments in Chelmsford both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Chelmsford is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chelmsford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Chelmsford - Examples of Queries before Purchasing
-
Many Chelmsford leasehold flats will be liable to pay a service bill for the upkeep of the building levied by the landlord. Should you acquire the apartment you will have to pay this amount, normally in instalments throughout the year. This could be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant figure, say about £25-£75 but you should to enquire it because occasionally it could be prohibitively expensive. Are any of leasehold owners in dispute over their service charge payments? The answer will be important as a) areas could result in problems for the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will need to have all the details
My financial adviser has recommended their conveyancer for the conveyancing in Chelmsford - Is it not simpler easier to just instruct them?
This is not necessarily the case and you are entitled to opt for whichever conveyancer you prefer for your Chelmsford conveyancing. The conveyancing practitioner put forward by an estate agent may not necessarily be the right conveyancing practitioner, they may put forward their preferred conveyancing firm who are based far away. In this instance you may not have contact with your property lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.