Me and my wife are buying our first property. The conveyancing practitioner has calledto see if we want to order additional conveyancing searches. We are really unsure what's necessary for conveyancing in Chelmsford
The type of Chelmsford conveyancing searches should be dictated entirely on the premises, the location, the probability of any of these risks, your knowledge of the area and risks, your overall attitude to risk. What matters is that you adequately appreciate what information the searches could supply. Then you can decide if you personally think you need that search. Should you be in doubt, ask the conveyancer to offer guidance.
Can you explain why leasehold purchase conveyancing in Chelmsford costs more?
Chelmsford leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I have justbecome aware that Stirling Law have closed. They carried out my conveyancing in Chelmsford for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chelmsford conveyancing specialists.
How does conveyancing in Chelmsford differ for newly converted properties?
Most buyers of new build premises in Chelmsford come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Chelmsford typically buy the site, 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 conveyancing solicitors 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 Chelmsford or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Chelmsford before instructing lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend refuse to grant a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chelmsford. Conveyancing will be smoother if you use a solicitor in Chelmsford especially if they are familiar with such properties in Chelmsford.
I am in need of some leasehold conveyancing in Chelmsford. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Chelmsford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a 2 bed flat in Chelmsford, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Chelmsford with an extended lease are worth £180,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2079
With 58 years left to run the likely cost is going to be between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. 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. Neither should you take any other action based on this information without first seeking the advice of a professional.