I am under pressure from the owner of a property in Tiverton to complete within four weeks. What can I do to quicken up the conveyancing process?
Where the seller is applying time constraints for your conveyancing it is advisable to make sure that your lawyer is familiar with the location as they will have local connections and insight. It is even conceivable that they could have handled otherhouses in the same neighbourhood. You would be best advised to use a Tiverton conveyancing lawyer. In addition, check that the lawyer is on the member panel. It is said that just under twenty per cent of Tiverton conveyancing deals are suspended or jeopardised after finding out that a purchaser’s conveyancer was not on their banks list of approved solicitors. This can often result in the legal process being delayed by almost three weeks. It is understood that this issue affects in the region of one hundred thousand home sales annually. Most Tiverton conveyancing practices can not represent certain banks so do check at the outset.
Will lawyers request money up-front for conveyancing in Tiverton?
If you are buying a property in Tiverton your solicitor will request that you place them with funds to cover the search fees. Normally this is asked for to cover the fees of the Local Authority Search. If any deposit is as part of the sale price then this should be needed shortly ahead of exchange of contracts. Any further balance that is due should be transferred a few days ahead of the day of completion.
My wife and I own a semi-detached Victorian property in Tiverton. Conveyancing solicitor represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tiverton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing solicitor who conducted the work.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Tiverton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Tiverton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tiverton you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tiverton may decide 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 premises.
What is different about your site and other online quote calculators when it comes to conveyancing in Tiverton?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Tiverton. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you select them for your conveyancing in Tiverton
What advice can you give us when it comes to choosing a Tiverton conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Tiverton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Tiverton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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What volume of lease extensions has the firm conducted in Tiverton in the last 12 months?
I invested in buying a studio flat in Tiverton, conveyancing having been completed January 2004. 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 Tiverton with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2082
With just 57 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.