Me and my partner are about to exchange on the purchase of a property in Patcham but as a consequence of damage from the recent storms I have was able negotiate compensation from the current proprietors in the sum of £2k in the form of a adjustment in the price. I had intended this to be addressed as part of amending the contract but Nottingham are not allowing this. Should they have been involved?
The property lawyer being on a Nottingham approved list is required to inform Nottingham of any amendments to the purchase price. If you were to refuse your solicitor to disclose the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new solicitor for your conveyancing in Patcham.
Why do I have to pay up front when it comes to conveyancing in Patcham?
If you are buying a property in Patcham your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the purchase price then this should be needed immediately prior to exchange of contracts. The final balance that is needed will be payable shortly before completion.
We're in Patcham, 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 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.
My wife and I purchased a terraced Victorian property in Patcham. Conveyancing solicitor acted for me and Leeds Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Patcham and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
My company is wishing to take over a lease of an office on the high street. Can you recommend solicitors offering no-move-no costs for non-domestic conveyancing in Patcham for below 2k?
We can recommend firms who have specialist knowledge of commercial conveyancing in Patcham, including the disposal and purchase of businesses as well as simply property. If you are hoping to purchase or sell a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right lawyer. As for the costs these will vary based on the structure and complexity of the deal. Let us have your details or call so as to enable us to provide you with a detailed commercial conveyancing calculation.
All being well we will complete our sale of a £200,000 garden flat in Patcham on Thursday in a week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Patcham?
For the majority of leasehold sales in Patcham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
-
Completing pre-contract enquiries
Where consent is required before sale in Patcham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a split level flat in Patcham, conveyancing having been completed in 2007. Can you work out an approximate cost of a lease extension? Equivalent properties in Patcham with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2094
With 68 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.