Finally the sale completed on my house in Locks Heath last July yet the purchaser is Skype messaging daily to say her solicitor is waiting to hear from mylawyer. What are the post completion sale legalities following completion?
After completion of your sale your conveyancer should forward the transfer documentation and all of the paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer should also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There are no post completion formalities unique to conveyancing in Locks Heath.
My fiancee and I are spending time viewing apartments in Locks Heath and I am about to put in an offer. Should I already have a property lawyer in place at this point? I will be getting a mortgage with Principality.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are obtaining a mortgage with Principality, ask your prospective lawyers if they are on the Principality conveyancing panel otherwise they can't do the mortgage legal work.
I recently had an offer agreed on a house in Locks Heath. My financial adviser pressured me to appoint their lawyer. I paid an on account payment of £225. A couple of days later, the solicitor contacted me to say that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have finally had an offer on a maisonette in Locks Heath agreed to, the vendors do nevertheless have a connected purchase. The sellers have offered on a flat, however it’s not been accepted yet, and have viewings of other properties booked. I have instructed a local conveyancing solicitor in Locks Heath. What should be my next step? At what point should I apply for the mortgage with Coventry BS?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then valuation, Locks Heath conveyancing search costs, etc). The first thing to do is ensure that your conveyancing practitioner is on the Coventry BS conveyancing panel. Regarding the subsequent phase this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. In a buoyant market many home buyers would apply for the mortgage with Coventry BS and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to move forward with the conveyancing in Locks Heath.
What will a local search reveal concerning the property we're purchasing in Locks Heath?
Locks Heath conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance PSG The local search plays an important role in most Locks Heath conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
three months have elapsed following my purchase conveyancing in Locks Heath 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 premises 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.
About to purchase a new build apartment in Locks Heath. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Locks Heath
-
Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Completion is due on the sale of our £375,000 apartment in Locks Heath in just under a week. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Locks Heath?
Locks Heath conveyancing on leasehold maisonettes often requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They are at liberty to levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I purchased a garden flat in Locks Heath, 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? Comparable flats in Locks Heath with an extended lease are worth £260,000. The ground rent is £45 per annum. The lease finishes on 21st October 2100
With just 74 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on 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 considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.