Can you explain why leasehold purchase conveyancing in Chepstow is more expensive?

Chepstow leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

What is your number one tip for choosing a conveyancing solicitor in Chepstow

Do not opt for the cheapest Chepstow conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

Have just purchased a repossessed house at auction in Chepstow. Conveyancing is required. What is next?

Now that you have to in every practical sense signed on the dotted line you must find a conveyancing solicitor as a matter of urgency as you are facing a pending a drop dead date to complete the transaction. Every auction property will have a corresponding legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You should give this to your appointed conveyancing solicitor ASAP. Do make sure that your finances are organised to complete the transaction on the set completion date.

This question may be naive but I am unseasoned as FTB of a two bedroom flat in Chepstow. Do I pick up the keys to the premises on completion from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Chepstow?

On the day of completion you do not need to go to the conveyancers office in Chepstow. Your solicitors will arrange to send the purchase money to the owner’s lawyers, and shortly after the monies have arrived, you should be called to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.

I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in Chepstow I like with open areas and station nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Chepstow suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a home loan that many years may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.

I have just started marketing my garden apartment in Chepstow. Conveyancing has not commenced, but I have recently had a half-yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal as all rents and maintenance charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I acquired a 2 bed flat in Chepstow, conveyancing having been completed March 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Chepstow with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2093

With just 69 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

What if there is a problem with the searches conducted as part of our conveyancing in Chepstow?

Usually, the majority of issues that arise in Chepstow conveyancing search responses can be handled in advance of completion or title insurance can be obtained. You should note that even though you intend on purchasing the premises and might be willing to live with the search results, your lender may not, and when all said and done the decision rests with them.