The solicitor who assisted with my previous purchase has quoted £1700 for no completion no fee conveyancing in Prestatyn. I am hoping to sell a newly refurbished house for £250,000. Are the quoted fees excessive? Is it in excess of the norm for conveyancing in Prestatyn?
The charges are a little high. If you are prepared to spend time contrasting fee on a like for like basis you could reduce the fees marginally by perhaps a hundred pounds. That being said, you mightcome to regret choosing an an untested lawyer. Remember to check the solicitor can also act for your lender. Do make use of our search tool to find a Prestatyn conveyancing firm on the lender’s conveyancing panel which can often include conveyancing solicitors in Prestatyn.
The vendors of the property we are purchasing have instructed a conveyancing solicitor in Prestatyn who has recommended a lock out agreement with a down payment 10k. Are such agreements sensible?
This form of preliminary agreement is unusual in Prestatyn, conveyancers are not keen on them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no guarantee that just because the owner has signed an exclusivity agreement they will sell to you. They may be tempted to break the agreement if they receive a large enough offer to do so because a wronged buyer with the benefit of a exclusivity agreement will still have to establish consequential losses from the breach and this may not amount to the financial benefit that your vendor may gain by breaching the agreement, however morally unworthy the behaviour is.
I purchased a freehold property in Prestatyn yet charged rent, why is this and what is this?
It is rare for properties in Prestatyn and has limited impact for conveyancing in Prestatyn but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I have justbeen informed that Action Conveyancing have been shut down. They carried out my conveyancing in Prestatyn for a purchase of a freehold house 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Prestatyn conveyancing specialists.
I am purchasing a new build house in Prestatyn with a mortgage from Barclays . The developers refused to move on the price so I negotiated £7000 of extras instead. The property agent suggested that I not disclose to my solicitor about this side-deal as it may adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How and when do I cover the costs of the Stamp Duty Land Tax due for my conveyancing in Prestatyn?
The majority of lawyers will fill out a stamp duty return on your behalf as part of your Prestatyn conveyancing transaction for signature. On completion your conveyancer will submit the STL Return Form to the Tax Authorities and - assuming they have the funds - pay any Stamp Duty due for you.