The vendors of the home we are purchasing are using a conveyancing firm in Ampthill who has insisted on a exclusivity agreement with a deposit of 5k. Are such arrangements generally advanced for Ampthill conveyancing transactions?
Exclusivity agreements are agreements binding a home seller and purchaser granting the buyer exclusive rights to the sale of the property within a prescribed time frame. For all intents and purposes, an exclusivity agreement is a contract specifying that you should be issued with a contract at a later time which is the main conveyancing contract. It tends to be used for buyer assurance though in some cases, the vendor may enjoy an upside from such agreements as well. There are various pros and cons to using an agreement but you need to check with your lawyer but note that it may end up costing you extra in conveyancing charges. For these reasons these agreements are unusual when it comes to conveyancing in Ampthill.
Having invested time researching online forums for a recommended lawyer in Ampthill, many post that I should look for a CQS kitemarked solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing processes via the scheme protocol the standard covers many firms who carry out conveyancing in Ampthill.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Ampthill I like with a park and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Ampthill in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
We're FTB’s - agreed a price, but the agent advised that the seller will only issue a contract if we appoint the agent's preferred lawyers as they want an ‘expedited deal’. We would rather use a family conveyancer used to conveyancing in Ampthill
It is improbable the owners are behind this. If they desire ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Contact the sellers directly and make the point that (a)you are serious purchasers (b)you are ready to progress, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to instruct your own,trusted Ampthill conveyancing lawyers - not the ones that will give the estate agent a referral fee or hit his conveyancing figures demanded by HQ.
I have recently realised that I have Seventy years remaining on my lease in Ampthill. I now wish to extend my lease but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. On the whole an enquiry agent would be useful to carry out a search and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Ampthill.
I own a 2 bed flat in Ampthill, conveyancing formalities finalised in 2010. How much will my lease extension cost? Similar flats in Ampthill with over 90 years remaining are worth £190,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2082
You have 61 years unexpired we estimate the price of your lease extension to span between £19,000 and £22,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
I have been told by various estate agents to expect 6-8 weeks for Ampthill conveyancing to complete.This was 3 ago. The property information was only received to my lawyer last week so does the clock start running now?
Do not bank on moving on a set date until exchange of contracts occurs. Whatever promises the people you are purchasing from or selling to make, or your financial adviser gives don't rely on them. More stress is caused to clients trying to move home by false assurances than any other factor when it comes to conveyancing in Ampthill.