I was recommended to a conveyancer who has sent a quote for £1350 for fixed fee conveyancing in Machen. I’m looking to sell a Edwardian property for £225,000. Are these estimated fees excessive? Is it above what I should be paying for conveyancing in Machen?
The quote is slightly on the expensive side. If you shop around you might shave off some of the expense by as much as a hundred pounds. On the other hand, you mightlive to rue choosing an a cheaper conveyancer. If is important to ensure the solicitor can represent your lender. You can employ our search tool to locate a Machen conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Machen.
I am acquiring a property without a mortgage in Machen. I have been living for the previous 15 years in Machen. Conveyancing searches are exorbitant. Given that I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Machen conveyancing searches are at your discretion. Your solicitor will 'advise', no-doubt strongly, that you should have searches done, but she has a professional duty to take that path of advice. One thing to take into account; if you are going to dispose of the house at a future date, it will likely be be of relevance to your future buyer what the searches contain. Sometimes properties with apparent issues can still show up negative search results. A competent conveyancing solicitor in Machen should be able to give you some practical guidance in this regard.
How does conveyancing in Machen differ for newly converted properties?
Most buyers of new build property in Machen approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Machen usually buy the real estate, 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 property lawyers 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 Machen or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Machen I like with open areas and station in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Machen suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I was pointed in your direction by a few selling agents in Machen to choose a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to promote your site over alternative conveyancing organisations?
We refuse to make any referral fee for sending work in our direction. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We are in the throes of a leasehold sale of a flat in Machen. Conveyancing lawyers are doing their job but we are being charged a fortune from the managing agents. To date we have forked out £295.50 for a leasehold management information and then another £117.20 for answers to queries supplied by the purchaser's conveyancer.
Neither you or your lawyer will have any say over the extent of the charges for this information but the average costs for the information for Machen leasehold property is £350. When it comes to Machen conveyancing deals it is usual for the vendor to pay for these charges. The landlord or their agents are not duty bound to address these questions most will agree to do so - albeit often at high prices disproportionate to the work involved. Unfortunately there is no law that requires fixed fees for administrative tasks. There is no statutory time limit by which they are duty bound to supply the information.