The lawyer who helped my former purchase has given a fee estimate £1700 for freehold conveyancing in Great Baddow. I am selling a Edwardian property for £225,000. Is this expensive? Is it above what I should be paying for conveyancing in Great Baddow?
The estimate does seem marginally steep. If you are prepared to expend time contrasting charges you could trim some of the cost by perhaps £100 plus VAT. That being said, you mightlive to regret choosing an an unknown solicitor. Remember to enquire the solicitor can act for your mortgage company. Do employ our comparison tool to locate a Great Baddow conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Great Baddow.
My wife and I have a renovated Victorian property in Great Baddow. Conveyancing practitioner acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Baddow and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing lawyer who completed the work.
How does conveyancing in Great Baddow differ for new build properties?
Most buyers of new build property in Great Baddow contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Great Baddow typically buy the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Great Baddow or who has acted in the same development.
I opted to have a survey done on a house in Great Baddow before appointing lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks tend not issue a loan on such a property.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Great Baddow. Conveyancing may be slightly more expensive based on your lender's requirements.
At what point do I cover the costs of the Stamp Duty Land Tax due for my Great Baddow property purchase?
The majority of lawyers tend to complete a stamp duty return on your behalf during your Great Baddow purchase transaction for you to sign. After completion your conveyancer will submit the STL Return Form to the Tax Authorities and - as long as they have the money - discharge any tax bill payable for you.