My previous conveyancer has given a fee estimate just over a thousand pound for leasehold conveyancing in Codsall. I’m selling a modern detached home for £200,000. Is this expensive? Is it above what I should be paying for conveyancing in Codsall?

The charges are a little high. If you are content to expend time comparing fee on a like for like basis you might get the conveyancing a bit cheaper by say £125. That being said, you mightlive to regret opting for an a cheaper lawyer. Don't forget to check that the solicitor can act for your bank. You can use our search tool to select a Codsall conveyancing company on the lender’s member panel which can often include conveyancing solicitors in Codsall.

I purchased a freehold residence in Codsall but still pay rent, why is this and what is this?

It’s unusual for properties in Codsall and has limited impact for conveyancing in Codsall but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.

My lawyer in Codsall is not listed on the Alliance & Leicester Approved Panel. Can I still retain my family solicitor notwithstanding that they are not on the Alliance & Leicester panel of approved conveyancing solicitors?

Your options are as follows:

1. Complete the purchase with your existing Codsall solicitors but Alliance & Leicester will need to retain a conveyancer on their panel. This will result in additional overall conveyancing charges as well as cause delays.
2. Choose a new lawyer to act in the conveyancing, obviously checking they are Alliance & Leicester approved.
3. Try to convince your Alliance & Leicester based solicitor to attempt to join the Alliance & Leicester panel

Will my conveyancer be raising questions regarding flooding as part of the conveyancing in Codsall.

The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Codsall. There are those who buy a property in Codsall, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not qualified to offer advice on flood risk, however there are a numerous searches that can be initiated by the purchaser or by their lawyers which will give them a better understanding of the risks in Codsall. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover if the property has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the vendor, then a purchaser may issue a legal claim for losses as a result of such an misleading reply. The buyer’s lawyers will also commission an environmental report. This will disclose if there is a recorded flood risk. If so, more detailed investigations should be initiated.

Looking forward to sign contracts shortly on a leasehold property in Codsall. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Codsall should include some of the following:

Where does the liability rest for repairing the window frames You would want to receive a copy of the lease The length of the lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years Does the lease prohibit wood flooring? What you can do if another leaseholder in the building is in violation of a provision in their lease?

Codsall Leasehold Conveyancing - Sample of Queries before Purchasing

It would be prudent to discover as much as you can about the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical matters such as the cleanliness of the communal areas. Enquire of prospective neighbours what they think of them. On a final note, find out the dates that you are obliged pay the service charge to the appropriate party and specifically what it includes. Who is in charge of the building? The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is larger than a house conversion, the managing agent is directed by the tenants.