I am in need of a property lawyer. Do I opt for a nationwide conveyancer or a family Little Oakley conveyancing lawyer?
Little Oakley is a unique place, where local know-how helps. The relaxed pace of life has it’s attractions – just not for your conveyancing. The conveyancers that we endorse possess a wealth of Little Oakley know how with a proactive, can doapproach that helps the conveyancing to progress with the minimum of fuss. It will certainly help if they can make use of well established connections with mortgage brokers, estate agents, valuers and other Little Oakley conveyancing practices
Why is leasehold purchase conveyancing in Little Oakley costs more?
Little Oakley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
How does conveyancing in Little Oakley differ for newly converted properties?
Most buyers of new build property in Little Oakley come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Little Oakley tend to 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 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 accustomed to new build conveyancing in Little Oakley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Little Oakley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Little Oakley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Little Oakley you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Little Oakley may decide 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 residence.
In my capacity as executor for the estate of my aunt I am disposing of a property in Neath but I am based in Little Oakley. My conveyancer (based 200 kilometers awayrequires that I sign a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Little Oakley who can attest and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Little Oakley based
I am a negotiator for a reputable estate agency in Little Oakley where we have experienced a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Little Oakley conveyancing firms. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a garden flat in Little Oakley, conveyancing was carried out February 2002. How much will my lease extension cost? Corresponding properties in Little Oakley with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2079
With 54 years unexpired the likely cost is going to span between £32,300 and £37,400 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.