My previous solicitor has sent a quote for just over a thousand pound for freehold conveyancing in Somerstown. I am selling a purpose built property for £125,000. Are these estimated fees excessive? Is it in excess of the average fee for conveyancing in Somerstown?
The estimate does seem marginally steep. If you are happy to invest time comparing costs you could get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, you mightlive to regret choosing an an untested conveyancer. Don't forget to enquire the solicitor can represent your bank. You can make use of our search tool to choose a Somerstown conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Somerstown.
My brother and I have just bought a house in Somerstown. We have noticed several problems with the house which we suspect were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been conducted for conveyancing in Somerstown?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Somerstown. Conveyancing searches and investigations undertaken as part of the buying process are designed to help avoid problems. As part of the process, a seller fills in a form known as a SPIF. If the information is misleading, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Somerstown.
Our mortgage company has suggested a law firm on their panel based in Somerstown but I would rather instruct a conveyancing lawyer in Somerstown or nearer to where I live. Can you assist?
Not all Somerstown conveyancing practices are approved and listed on all banks conveyancing panel. Use the above search tool to find a Somerstown conveyancing firm on the on the lender panel.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial property in Somerstown?
Its becoming the norm that commercial conveyancing solicitors in Somerstown will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Somerstown. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Somerstown.
For every commercial conveyancing transaction in Somerstown it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Somerstown commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Somerstown.
I am buying my first flat in Somerstown benefiting from help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not inform my lawyer about this extras as it may put at risk my mortgage with the bank. Is this normal?.
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.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Somerstown I like with open areas and railway links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Somerstown for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.