The sellers of the home we are hoping to buy hired a conveyancing firm in Chalfont St Peter who has suggested a preliminary contract with a payment of 5k. Are such arrangements appropriate for Chalfont St Peter conveyancing transactions?
There are two primary concerns with executing a lock out agreement (occasionally referred to as a no-shop agreement) is that it can distract from making progress with the conveyancing transaction itself, so unless it requires little or no negotiation then it could transpire to be unhelpful. It is not strongly advocated amongst Chalfont St Peter conveyancing solicitors as a result. A supplemental negative is the extent of the remedies available - a jilted buyer is very unlikely to be granted injunctive relief to prohibit the owner disposing of the property to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of wasted costs and, in limited circumstances, the additional payment of damages.
I am looking to buy a property and require a conveyancing solicitor in Chalfont St Peter who is on the Chelsea Building Society conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Chelsea Building Society in certain locations such as Chalfont St Peter. We dont recommend any particular firm.
How does conveyancing in Chalfont St Peter differ for newly converted properties?
Most buyers of new build premises in Chalfont St Peter come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Chalfont St Peter usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Chalfont St Peter or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one close by in Chalfont St Peter I like with a park and station nearby, however it's only got 61 remaining years left on the lease. There is not much else in Chalfont St Peter for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
In what way can the Landlord & Tenant Act 1954 impact my business property in Chalfont St Peter and how can your lawyers assist?
The 1954 Act provides a safeguard to business tenants, granting the dueness to make a request to court for a renewal tenancy and remain in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Chalfont St Peter is one of our hundreds of areas of the UK in which our lawyers are based
There are only 72 years remaining on my lease in Chalfont St Peter. I need to get lease extension but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases a specialist would be helpful to try and locate and to produce an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Chalfont St Peter.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Chalfont St Peter. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the price.
An example of a Lease Extension case for a Chalfont St Peter premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired term was 71 years.