Recently been in touch with my conveyancing lawyer in Southend who completed the legal work two years ago asking for a conveyancing estimate based on the same type of house sale & purchase (a leasehold premises and a freehold premises) of similar values with a home loan from TSB. I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative firm of conveyancing solicitor?
The estimate does seem a tad steep. Where you are content to invest time comparing quotes you may be able to get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, providing that you were happy with the legal work the firm provided you mightcome to regret choosing an an untested conveyancer. Remember to enquire that the solicitor can represent TSB. You can employ our search tool to find a Southend conveyancing firm on the TSB conveyancing panel, which can often include conveyancing solicitors in Southend.
Can the conveyancing lawyers via your comparison service perform attended exchange conveyancing in Southend?
There are a few conveyancing experts carrying out one day exchanges. Do call us to obtain a fee calculation and details as to availability.
I am looking for a flat up to £195,000 and identified one near me in Southend I like with amenity areas and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Southend in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
We're new to the buying process - had an offer accepted, yet the estate agent advised that the vendor will only move forward if we use the agent's chosen conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Southend
It is highly unlikely the vendors are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is going to damage their objectives. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Southend conveyancing firm - not the ones that will provide their negotiator at the agency a referral fee or meet his conveyancing thresholds set by head office.
I work for a long established estate agency in Southend where we have witnessed a few flat sales put at risk as a result of short leases. I have received inconsistent advice from local Southend conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a second floor flat in Southend. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Absolutely. We can put you in touch with a Southend conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Southend premises is 75 Woolstone Road in February 2012. the decision of the Tribunal was that the appropriate amount to be paid to purchase the freehold was the sum of £17,711 . This case was in relation to 2 flats. The unexpired lease term was 68.28 and 158.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Southend. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Southend are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Southend so you should seriously consider shopping around for a Southend conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.