I have been told that property searches are the primary reason for obstruction in Chiseldon house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Chiseldon.
It has been 4 months since my purchase conveyancing in Chiseldon completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Chiseldon differ for new build properties?
Most buyers of new build property in Chiseldon contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Chiseldon typically buy the land, 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 conveyancers 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 accustomed to new build conveyancing in Chiseldon or who has acted in the same development.
What makes your site different to other internet conveyancing solicitors for conveyancing in Chiseldon?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Chiseldon. Unlike many estate agents and many comparison sites we do not have commission arrangements with solicitors. Some agents and online brokers 'recommend' the firm paying the most per referral, not the best value conveyancing in Chiseldon
I am tempted by the attractive purchase price for a two apartments in Chiseldon which have approximately 50 years remaining on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Chiseldon is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and banks, leases with under 75 years become less and less marketable. 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 premises 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 Chiseldon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.
I acquired a leasehold flat in Chiseldon, conveyancing formalities finalised 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 Chiseldon with a long lease are worth £185,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2085
You have 60 years unexpired the likely cost is going to be between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
How easy is it to change a solicitor as I need to find a Chiseldon based one who is on the lender conveyancing panel. How simple is it to change conveyancer?
In the event that you have not formally instructed a conveyancer to start work and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Chiseldon that you're considering.