I instructed a Theale based firm for our conveyancing in Theale last week. Reviewing the fine print it is apparent thatwe are liable for fees even if our purchase doesn't happen. Should I go with them or appoint an internet lawyer who offer no completion no cost conveyancing in Theale?
It is usually ‘give and take’ in that if "No Completion No Fee" is offered then the conveyancing charges will tend to be be higher to counteract the transactions that abort. Dont forget that such arrangements generally do not cover expenditure for example Theale conveyancing search costs.
Can you explain why leasehold purchase conveyancing in Theale is more expensive?
Theale 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.
I am buying a new build flat in Theale. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Theale
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am looking for a ground for flat up to £245,000 and identified one round the corner in Theale I like with a park and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Theale suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Theale?
At this site secure an accurate costs illustration from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Theale. Unlike many estate agents and many comparison sites we do not have referral arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the highest per referral, as opposed to the best value conveyancing in Theale
I've recently bought a leasehold property in Theale. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a basement flat in Theale, conveyancing was carried out May 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Theale with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2084
With 58 years left to run we estimate the premium for your lease extension to span between £21,900 and £25,200 plus costs.
The suggested premium range above a general guide to costs for extending 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 the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.