The owners of the property we are looking to purchase are using a conveyancing firm in Bordon who has suggested a exclusivity contract with a non-refundable deposit of 5k. Are such agreements sensible?
There are a couple of primary downsides with entering into any lock out contract (sometimes referred to as a no-shop agreement) is that it can distract from progressing with the conveyancing process, so unless it requires little or no negotiation then it may transpire to be unhelpful. It is not particularly popular by Bordon conveyancing lawyers as a result. A further concern is the extent of the remedies available - an aggrieved buyer should not expect to obtain an injunctive ruling by a court to stop the seller selling to an alternative purchaser, so the only remedy open via the agreement will be the recovery of abortive charges and, in rare situations, the extra payment of penalties.
Can you explain why leasehold purchase conveyancing in Bordon is more expensive?
In short, leasehold conveyancing in Bordon and Hampshire usually requires additional work compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord concerning the service of applicable notices, securing current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My wife and I have recently appointed a conveyancing solicitor in Bordon. I need to find out if they are on the Barnsley Building Society approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should e-mail the conveyancer and ask them if they are on the lender panel. Alternatively you should call Barnsley Building Society who may be able to help.
I am assisting my step-mother sell her property in Bordon. Will the solicitor order the energy performance certificate or it is for the owner to coordinate?
After the demise of HIPs, energy performance certificates was retained a required component of selling a property. An energy performance certificate needs to be commissioned in advance of the property being advertised. It is not a task that law firms normally arrange. If you are using a Bordon conveyancing practitioner they might help arrange EPC’s due to their relationships with reputable local providers
I'm at the point of looking at flats in Bordon and I am now considering a potential offer. Should I already have a solicitor in place at this stage? I intend to finance via a mortgage with Kent Reliance.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are seeking a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Coventry BS are being difficult. The Bordon solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
I have been told that property searches are a common reason for obstruction in Bordon house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Bordon.
I am on look out for some leasehold conveyancing in Bordon. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Bordon - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a basement flat in Bordon, conveyancing having been completed 4 years ago. How much will my lease extension cost? Comparable flats in Bordon with an extended lease are worth £180,000. The ground rent is £65 per annum. The lease expires on 21st October 2084
With only 59 years left to run we estimate the premium for your lease extension to range between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.