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It is is a decade since I purchased my house in Clifton. Conveyancing solicitors have recently been appointed on the sale but I can't find my title documents. 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 could stored with the solicitor who handled your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Nearly all conveyancing in Clifton involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
I have been told that property searches are the primary reason for hinderance in Clifton conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Clifton.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Clifton is the location of the property. Can you offer any opinion?
Flying freeholds in Clifton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Clifton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Clifton may ascertain 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 property.
Do you have any advice for leasehold conveyancing in Clifton with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Clifton can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers’ lawyers. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate is often a lengthy formality and frustrates many a Clifton home move. Where a new share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. The majority of landlords or Management Companies in Clifton levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Clifton. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.
I purchased a 1 bedroom flat in Clifton, conveyancing was carried out in 2010. How much will my lease extension cost? Similar properties in Clifton with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2093
With 71 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
I am seeking to acquire a repossessed house in Clifton and the vendor would like to complete within a month. Can a conveyancer complete in this timeframe? Am I best advised to select a local Clifton firm or an online organisation that professes to complete quickly?
Visit your Clifton shopping parade. Pop in to 3 firms and request to talk to a conveyancing solicitor for an estimate. Set out your needs and try and obtain assurances on deadlines. Choose the one that comes across as most genuine. Be sure to select a lawyer on the list of conveyancing practitioners acceptable to your mortgage company.