We are soon to exchange buying a house in Bury St Edmunds but as a result of damage from the recent storms I have was able negotiate reparation from the current proprietors in the sum of six thousand pounds taking the form of a reduction in the price. I had intended this to be dealt with as part of a side agreement yet Co-operative will not permit this. Should they have been approached?
Your property lawyer being on the Co-operative conveyancing panel is duty bound to disclose to Co-operative of any changes to the purchase price. If you prohibit your conveyancer to disclose the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new property lawyer for your conveyancing in Bury St Edmunds.
As someone not used to conveyancing in Bury St Edmunds what’s your top tip you can impart concerning the ownership transfer in Bury St Edmunds
Not many law firms shout this from the rooftops but conveyancing in Bury St Edmunds and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there is an abundance of room for confrontation between you and others involved in the transaction. For instance, the seller, selling agent and even potentially a mortgage company. Selecting a lawyer for your conveyancing in Bury St Edmunds an important selection as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to act in your legal interests and to protect you.
We are witnessing a worrying emergence in the "blame" culture- someone must be at fault for the process taking so long. We recommend that you must always trust your lawyer ahead of the other players when it comes to the legal assignment of property.
Have completed on a a semi-detached house in Bury St Edmunds , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Bury St Edmunds conveyancing solicitor works at snail pace, so I want to be sure that my name is recorded.
As far as conveyancing in Bury St Edmunds is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and whether the Land registry need to notify any third parties. Currently in the region of three quarters of such applications are completed within two weeks but some can be subject to extensive delays. Historically registration is effected once the purchaser is living at the property therefore 'speed' is not always an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
Am I best advised to go with a Bury St Edmunds conveyancing practitioner based in the location that I am hoping to buy? An old friend can execute the conveyancing but her office is 400miles drive away.
The primary upside of using a high street Bury St Edmunds conveyancing practice is that you can pop in to execute documents, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and in the main were content that should trump using an unfamiliar Bury St Edmunds conveyancing lawyer just because they are Bury St Edmunds based.
Back In 2009, I bought a leasehold flat in Bury St Edmunds. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Bury St Edmunds who acted for me is not around. What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Bury St Edmunds conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a leasehold flat in Bury St Edmunds, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Bury St Edmunds with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2092
With only 68 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.