Just been in touch with my conveyancing lawyer in Radford who acted for me 18 months ago requesting a conveyancing costs illustration based on the same type of home move (a leasehold premises and a freehold property) of almost identical values with a loan from Alliance & Leicester . I am now being charged double. Should I hunt for an alternative conveyancer?
The costs illustration is slightly on the high side. If you shop around you might reduce the fees slightly by as much as £125. That being said, assuming were pleased with the service the firm gave you mightcome to rue opting for an an untested lawyer. Don't forget to ensure the conveyancer can represent Alliance & Leicester . You can make use of our search tool to choose a Radford conveyancing firm on the Alliance & Leicester approved list of lawyers, which can often include conveyancing solicitors in Radford.
Why is leasehold purchase conveyancing in Radford costs more?
Radford leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Will my lawyer be asking questions about flooding during the conveyancing in Radford.
Flooding is a growing risk for solicitors dealing with homes in Radford. There are those who purchase a property in Radford, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that may be undertaken by the purchaser or by their conveyancers which can give them a better understanding of the risks in Radford. The conventional set of information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out whether the premises has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a buyer may issue a legal claim for losses as a result of such an incorrect reply. The buyer’s conveyancers may also carry out an environmental search. This should higlight if there is a recorded flood risk. If so, more detailed inquiries should be conducted.
3 months have elapsed following my purchase conveyancing in Radford completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, no chain conveyancing. Radford is where the house is located. Can you offer any assistance?
Flying freeholds in Radford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Radford you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Radford may determine 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 property.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £225,000 apartment in Radford on Tuesday in a week. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Radford?
Radford conveyancing on leasehold apartments nine out of ten times results in fees being raised by managing agents :
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Answering pre-contract questions
Where consent is required before sale in Radford
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 inherited a leasehold flat in Radford, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent flats in Radford with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2092
You have 68 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.