How can I buy the freehold of the building in which I’m purchasing a flat?
When you buy a leasehold flat (usually for a lease lasting a long time), it means that you don’t own the building or the land on which it is built. If you want to buy the freehold of the building (either yourself or with other flat-owners), you’ll need to meet a few legal criteria before that can happen (such as the number of flats, the purpose to which the majority of the building is put to, and the number of flat-owners willing to by the freehold).
One additional point to note is that the shorter the lease on any flat, the greater the price of the freehold is likely to be.
You should talk to other residents about your plan as well as finding out how much the freehold will be and getting a professional valuation. Once you are in a position to move ahead, you’ll need to appoint a solicitor to manage the legal aspect of the planned purchase.
Homeward Legal's solicitors are well-versed in dealing with all types of freehold and leasehold purchases. So call us now on 0800 038 6699 and we'll guide you through the process and assign you to one of the best solicitors.
How is stamp duty measured and what will we need to pay on a £609000 Aberaeron house?
Stamp Duty depends on the purchase price of the house or flat. For a property sold for £609000, stamp duty is £24360.
Is it hard to sell a property located in a conservation area?
A conservation area is designated and managed by the local authority to ensure the unique nature of the location is maintained by placing restrictions on changes to the buildings, street furniture and green spaces to protect the architectural or historical interest of everything within the conservation area boundary.
Because of this resistance to change, this usually means homes in conservation areas are more attractive to buyers, and, as such, there may be a premium to pay over properties outside such areas. Because of the attraction of such property, they will usually sell well and quickly. However, there will need to be greater checks by the buyer’s solicitor to verify that your property conforms to the conservation area restrictions, which may add extra time to the duration of the conveyancing.
Homeward Legal's solicitors have a great deal of experience working with sales and purchases in conservation areas, so why not give our team a quick call on 0800 038 6699 right now to find out what we can do to help your plans?
Are many Aberaeron conservation areas likely to impact the building we are buying?
With around 9,000 affected areas across the country, the areas located near Aberaeron will include several conservation areas. A property solicitor will address the impact buying in a conservation area may have and be able to provide more details.
Which search enquiries should a property lawyer in Aberaeron apply for when buying a Aberaeron home?
The customary conveyancing procedure will be to get Local Authority (council), Drainage and Water Search (CON29DW) and Environmental as well as any specific local Aberaeron searches for example Utilities Search.
My local agent has offered the property lawyer who they generally use. Is it a good idea to instruct this solicitor?
Many agents in Aberaeron have referral deals with solicitors whereby they refer conveyancing work to them, however, such referrals should be compared against alternatives, as there is a risk that the agent may suggest the conveyancer who pays out the highest referral fee, not the best value for you.
Can I change the purpose of use for a purchase as part of the conveyancing procedure?
Putting in a planning request to change the use of part or all of a property is a straightforward process and you can deal directly with the local authority, which authorises plans and requests. However, tying it in with a planned purchase of a property has its own problems, since you don’t yet formally own the property, and the length of time to get through the planning process (with no guarantee of success) will need to be factored into the purchase duration, which the seller may not agree to.
We would advise you to either buy the property and then put in the planning request after completion (or exchange at the very earliest), or buy a property that’s already fit for your purposes. Or you might be lucky to find a property that already has the relevant planning consents in place.
What will the Aberaeron property solicitor do when the house I am intending to buy is inside the boundary of a registered conservation area and has an un-consented new windows fitted?
Ceredigion local authority Requisition for search and Official Certificate of Search conducted by your Aberaeron conveyancing solicitor as part of the conveyancing will verify whether the property is in a conservation area and evidence of formal approval for additions to the property will be requested.