The sellers of the home we are looking to purchase are using a conveyancing solicitor in Blakedown who has insisted on a lock out agreement with a payment of 5k. Are such contracts appropriate for Blakedown conveyancing transactions?
Exclusivity agreements are agreements between a home owner and prospective buyer granting the buyer exclusive rights to the sale of the property for a certain period of time. For all intents and purposes, a lock out agreement is a contract stating that you should receive a contract at a later date which is the contract for the actual sale. It is generally utilised for buyer protection though in many situations, the vendor may stand to benefit from such agreements as well. There are numerous pros and cons to using an agreement but you need to check with your conveyancer but beware that it may end up costing you extra in conveyancing fees. In light of these reasons these contracts are not popular in relation to conveyancing in Blakedown.
Will lawyers request an advanced payment for my conveyancing in Blakedown?
If you are buying a property in Blakedown your lawyer will ask you to provide them with monies to cover the search fees. Generally this is asked for to cover the fees of the conveyancing searches. When the down payment is payable against the total price then this should be required immediately in advance of contracts are exchanged. The final balance that is needed will be payable a few days ahead of the completion date.
Is it the case that all Blakedown conveyancing solicitors on the Aldermore conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Blakedown conveyancing solicitors have been appointed. How long does it take for Virgin Money to send the offer to the conveyancer?
There is no definitive answer here. Have Virgin Money completed the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Planning on purchasing a flat in Blakedown. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Blakedown lawyer is on the TSB conveyancing panel.
I am intent on selling our house in Blakedown and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Blakedown conveyancer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing outfit rather than a conveyancing solicitor in Blakedown. We have lived in Blakedown for 5 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You should 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 life insurance to cover that same illness)
I have todayfound out that Wolstenholmes have closed. They carried out my conveyancing in Blakedown for a purchase of a leasehold flat 18 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Blakedown conveyancing specialists.
I have just appointed agents to market my 2 bed flat in Blakedown. Conveyancing lawyers have not yet been instructed, but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal as all ground rent and maintenance charges should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a split level flat in Blakedown, conveyancing formalities finalised October 1999. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Blakedown with a long lease are worth £211,000. The ground rent is £50 levied per year. The lease ends on 21st October 2092
With 68 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.