Conveyancing In Whitefield Q & A's
How much time may the legal work to transact a property require, in your opinion? I am buying in Whitefield.
The length of time needed to transfer a property varies. This is influenced by a handful of issues affecting the property which may include whether a mortgage is involved. With Homeward Legal, your move is handled as fast as possible, without compromising on service.
Doing your own conveyancing without the assistance of a Whitefield conveyancer looks to be possible when selling a home , but would it be actually be a money saving idea ?
There are no reasons why a home seller cant opt to take care of the greater majority of the conveyancing without the help of an expert solicitor in Whitefield.
In reality however, a conveyancer juggles a huge number of tasks such as stock transfer forms or dealing with requisition on os1 most of which need a skilled professional. Above all else DIY lawyers are taking risks without applicable indemnity cover which every legal firms are legally obligated to carry.
At what point should I find a solicitor?
With a firm offering a 'no move, no fee' conveyancing quote, the earlier in the process you can instruct a solicitor, the better. Instructing your solicitor earlier for a sale means that documents can be prepared earlier, considerably accelerating the whole process, whereas if you are buying you will the details of your Whitefield solicitor ready when you make an offer.
Can I hold off paying stamp duty on buying a house in Whitefield?
Stamp duty is generally due on residential property priced at over 125,000 pounds. We do not recommend purchasers get involved with any stamp duty mitigation scheme, as such schemes are highly expensive and HMRC may challenge a scheme up to six years later.
Should I get my short lease extended before selling?
Buyers are becoming increasingly wary of buying leaseholds with less than 90 years to run because, first, the cost of increasing a leasehold is becoming far more expensive, and, second, mortgage companies are becoming increasingly reticent to lend money to buy leases that have dropped below the 80-year mark (indeed, this will be one of the criteria that they set to ensure their investment is protected).
As a result, buyers will often insist that the leasehold be extended back up to the 99-year or 125-year typical thresholds before going ahead and buying it. So, as the current leaseholder, you will almost certainly be expected to do the legal work required to extend the lease to a level that buyers will be happy with.
The property being bought is on a brownfield land. Could the top-soil be contaminated by industrial waste like vanadium (V)?
The risks posed by soil contamination to Whitefield inhabitants are usually low. Other sources of contaminated land include water contaminants such as landfill leachate.
The survey revealed that no planning consent was obtained for an extension: What are the issues I’ll face?
The chartered surveyor inspecting the property will check any extensions or works that have occurred and highlight any concerns for the attention of your conveyancing solicitor, who will make enquiries with the local authority to establish whether the consents and building regulations are in place.
If the building regulations agreement is not in place, the vendor is not legally allowed to sell the property until they are, since the title deeds cannot be transferred to your ownership. If building requiring planning consent is present at the property but without proof of consent approval, the local authority might be willing to accept a retrospective approval, although this could take a long time, and, even then, they may instruct you, as the new owner, to return the building to its former state, which could be very costly.
Your solicitor will be able to advise you on the most appropriate course of action to take, including whether the retrospective planning or the reversal of building works can be renegotiated from the agreed sale price.