We have rather assertive sellers who has recommended a lock out contract with a deposit 10k. Are such arrangements the norm for Beaufort conveyancing transactions?
There are two primary drawbacks with entering into any lock out contract (also referred to as a no-shop agreement) is that it takes away the focus from moving forward with the conveyancing process, so unless it requires little or no negotiation then it could turn out to be unhelpful. It is not particularly popular amongst Beaufort conveyancing solicitors as a result. A supplemental negative is the extent of the remedies available - a jilted buyer is not likely to be granted injunctive relief to prevent the vendor selling to another buyer, so the only remedy available under the agreement will be the reimbursement of abortive charges and, in restricted situations, the additional payment of penalties.
I happen to be the only beneficiary of my late mum's will and I have everything in my name alone, including the my former home in Beaufort. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the CML six month 'rule', meaning my property ownership may be considered the same way as though I had purchased the house in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some banks would take a practical view as this obligation principally exists to identify the purchase and immediately sell or the flipping of properties.
I am expecting a AIP from Nationwide this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Beaufort solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Beaufort solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Leeds Building Society are being problematic. The Beaufort solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial site in Beaufort?
Its becoming the norm that commercial conveyancing solicitors in Beaufort will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Beaufort. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Beaufort.
For each commercial conveyancing transaction in Beaufort it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Beaufort commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Beaufort.
I used Stirling Law several years ago for my conveyancing in Beaufort. I now require my papers but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Beaufort of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Beaufort is the location of the property. Is there any advice you can give?
Flying freeholds in Beaufort are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Beaufort you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beaufort may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Estate agents have just been given the go-ahead to market my garden apartment in Beaufort. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as usual given that all rents and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer 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 own a studio flat in Beaufort, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Beaufort with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2103
With 78 years left to run the likely cost is going to range between £7,600 and £8,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.