Our family solicitor has quoted £995 for freehold conveyancing in Coombe. I am selling a purpose built property for £175,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Coombe?
The charges are a little high. Where you are willing to spend time contrasting quotes you could get the conveyancing a bit cheaper by say £100 plus VAT. That being said, you maycome to regret opting for an an untested solicitor. If is important to enquire the conveyancer can also act for your bank. Do employ our comparison tool to locate a Coombe conveyancing company on the lender’s member panel which can often include conveyancing solicitors in Coombe.
We're in Coombe, First timers purchasing with a mortgage (lender is Barclays , and our lawyer is on the Barclays conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Barclays conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Will our lawyer be raising enquiries about flooding as part of the conveyancing in Coombe.
Flooding is a growing risk for solicitors dealing with homes in Coombe. Some people will acquire a property in Coombe, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Coombe. The standard completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover if the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser could bring a claim for damages as a result of such an misleading reply. The purchaser’s solicitors may also order an enviro search. This will disclose whether there is a recorded flood risk. If so, more detailed inquiries will need to be made.
It has been 3 months following my purchase conveyancing in Coombe concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 residence 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.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Coombe I like with a park and railway links in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Coombe in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Do I need to be concerned by estate agents that I am dealing with are recommending an internet conveyancing firm as opposed to a local Coombe conveyancing company?
As with many professional services, often input from connections can be extremely useful or valuable. Yet there are numerous people with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all recommend lawyers to use. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the discretion to select your own lawyer. Don't forget that most mortgage providers operate an approved list of solicitors you have to use for the mortgage aspect of your conveyancing.