Is there a reason why leasehold purchase conveyancing in Ditchling costs more?
Ditchling 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 need some fast conveyancing in Ditchling as I am faced with a deadline to complete inside one month. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Ditchling the following are examples of what can show up and therefore affect market value: Enforcement Actions, Outstanding Fees, Overdue Grants, Unadopted Roads,...
Have completed on a a detached house in Ditchling , What is the estimated time for the Land Registry to record the transfer to my name? My Ditchling conveyancing solicitor has been very slow, so I want to be sure the land registry aspects are concluded.
As far as conveyancing in Ditchling is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether there are errors and if the Land registry have to notify any interested persons or bodies. Currently roughly three quarters of such applications are fully dealt with within 12 days but some can be subject to extensive delays. Historically registration is effected after the new owner has moved in to the property therefore registration formalities is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in Ditchling I like with a park and railway links in the vicinity, however it's only got 61 years on the lease. There is not much else in Ditchling in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
My husband and I are FTB’s - agreed a price, but the agent told us that the seller will only move forward if we instruct the agent's recommended lawyers as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Ditchling
It is unlikely the owners are behind this. Should the owner require ‘a quick sale', alienating a motivated purchaser is not the way to achieve this. Contact the owners directly and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Ditchling conveyancing solicitors - rather thanthe ones that will earn their negotiator at the agency a introducer fee or hit his conveyancing targets pre-set by HQ.
I've recently bought a leasehold property in Ditchling. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a basement flat in Ditchling, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Ditchling with a long lease are worth £211,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2092
With just 67 years left to run we estimate the price of your lease extension to span between £10,500 and £12,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.