Is there a reason why leasehold purchase conveyancing in Wolverley costs more?
Wolverley 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.
We are close to exchanging contracts on the sale of our home in Wolverley and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local conveyancer would know this is not the case. It does beg the question why the purchasers used a national conveyancing outfit as opposed to a conveyancing solicitor in Wolverley. We have lived in Wolverley for six years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
How does conveyancing in Wolverley differ for new build properties?
Most buyers of new build residence in Wolverley contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because developers in Wolverley typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Wolverley or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Wolverley I like with open areas and transport links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Wolverley in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I was advised by a number of estate agents in Wolverley to locate a solicitor using your seach tool. What’s the financial advantage for Estate Agents to market your lawyers rather than a competitor’s?
We refuse to offer any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.