The owners have very brash vendors who has insisted on a exclusivity contract with a deposit two thousand pounds. Are such agreements sensible?
There are two main drawbacks with signing a lock out agreement (occasionally known as a no-shop agreement) is that it diverts attention away from making progress with the conveyancing process, so unless it requires limited or no negotiation then it may turn out to be a cause of frustration and delay. It is not promoted amongst Crayford conveyancing lawyers as a result. The other main concern is the extent of the remedies available - a jilted purchaser is very unlikely to obtain injunctive relief to prevent the seller completing the sale to a third party, so the only remedy available under the contract will be the recovery of abortive charges and, in rare situations, the additional payment of damages.
Can your site be used to recommend a Conveyancing solicitor in Crayford even where I’m not purchasing or disposing of a house, for example where I intend to acquire a shop in Crayford with a loan from Yorkshire Building Society?
Our search tool is primarily utilised to locate residential conveyancing solicitors in Crayford but we have listed towards the end of this page some Crayford commercial conveyancing firms. You should enquire with the company directly to check if they can also act for Yorkshire Building Society
Just had an offer accepted on a new build flat in Crayford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Crayford
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am looking for a leasehold apartment up to £245,000 and found one close by in Crayford I like with a park and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Crayford in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Having had my offer accepted I require leasehold conveyancing in Crayford. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and most are in Crayford - then the leasehold title will always include the short particulars 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 am the registered owner of a ground floor flat in Crayford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
You certainly can. We are happy to put you in touch with a Crayford conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Crayford premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The number of years remaining on the existing lease(s) was 76 years.
My wife and I have AIP from Barclays who indicated we could borrow up to £400k. At what point do I need to appoint a practitioner for conveyancing? Crayford is where we are purchasing.
You can appoint a solicitor now so that the property lawyer can open the ledger so they can conduct their ID checks etc. Once you wish them to start work you will be asked for a payment on account usually about £200. That should normally be once you have the mortgage offer and survey results, nevertheless should you wish to expedite the process you can get going sooner albeit risking some money.