Having sold my house in Westgate on Sea last December yet the purchaser is e-mailing me complaining that his solicitor needs to hear from mylawyer. What are the post completion sale legalities following completion?
Following your house sale your conveyancer should deliver the transfer documentation and all additional paperwork to the purchaser's solicitors. Where appropriate, your conveyancer must also confirm that the home loan has been discharged to the buyers lawyers. There are no post completion requirements peculiar conveyancing in Westgate on Sea.
Our bank has recommended solicitors on their panel based in Westgate on Sea but I would rather choose a conveyancing lawyer in Westgate on Sea or nearer to where I live. Are you able to assist?
It is by no means the case that all Westgate on Sea conveyancing practices are on all lender’s conveyancing panel. Please make the most of our search tool to choose a Westgate on Sea conveyancing conveyancer on the on the mortgage company panel.
It has been 4 months following my purchase conveyancing in Westgate on Sea concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 was advised by a number of selling agents in Westgate on Sea to get a quote from a solicitor using your seach tool. What’s the financial inducement for Estate Agents to offer your lawyers ahead of another?
We refuse to offer any commission for directing people to this site. We thought it would be too underhand a fee as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I am tempted by the attractive purchase price for a couple of flats in Westgate on Sea which have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Westgate on Sea. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area.
I bought a garden flat in Westgate on Sea, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Westgate on Sea with an extended lease are worth £211,000. The ground rent is £45 levied per year. The lease ends on 21st October 2090
With only 67 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as professional fees.
The figure that we have given is 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 comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
We are in the middle of purchasing a residence in Westgate on Sea. Conveyancing solicitor has told us the property is "Leasehold". Will this likely adversely affect our lender’s valuation?
Westgate on Sea conveyancing does not usually involve leasehold houses. The crucial consideration here is the length of lease and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the saleability significantly.
At the other extreme, if it's, say, 50 years it will have a significant effect on the value, and probably wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be stated in the lease which should be made available to your lawyer.