The housing market in Great Linford is hotting up. What can I do to speed up matters?
In a situation where you are under a tight deadline to sign contracts we would recommend that your conveyancer is familiar with the location as they will make use of local contacts and know-how. It is possible that they may have transacted otherhomes in the same neighbourhood. Therefore consider using a Great Linford conveyancing lawyer. In addition, ensure that the lawyer is on the member panel. It is estimated that nearly one in five of Great Linford conveyancing transactions are frustrated or jeopardised after finding out that a buyer’s conveyancer was not on their mortgage lender’s panel. In many cases this discovery resulted in the transaction being held up by as much as 21 days. It is believed that this issue affects in the region of 100,000 home moves every year. Most Great Linford conveyancing firms can not represent certain mortgage companies so do check at the outset.
A colleague recommended that where I am purchasing in Great Linford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Great Linford conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Great Linford around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Great Linford.
three months have elapsed since my purchase conveyancing in Great Linford took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 asset 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.
Do I need to be suspicious by third parties that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Great Linford conveyancing firm?
As is the case with lots of professional services, often input from relatives can be worth their weight in gold. But there are numerous players in a conveyancing transaction; estate agents, financial adviser and lenders might all recommend conveyancers to appoint. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there exists a commercial relationship behind the endorsement. You have the discretion to appoint your own lawyer. You need to be aware that most mortgage providers have an approved list of lawyers you have to use for the lender aspect of your house move.
Can you provide any advice for leasehold conveyancing in Great Linford with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Great Linford can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and delays many a Great Linford home move. If a new share is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later. The majority of landlords or managing agents in Great Linford charge for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Great Linford. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I bought a studio flat in Great Linford, conveyancing having been completed 10 years ago. 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? Corresponding properties in Great Linford with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2082
You have 58 years remaining on your lease we estimate the price of your lease extension to be between £21,900 and £25,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.