The sellers of the property we are looking to purchase are using a conveyancing practitioner in Farnham Common who has suggested a lock out contract with a payment two thousand pounds. Are such agreements sensible?
There are two primary concerns with executing a lock out contract (sometimes known as a no-shop agreement) is that it can distract from progressing with the conveyancing work, so in the absence of it needing minimal or no negotiation then it may transpire to be a hindrance. It is not particularly popular by Farnham Common conveyancing solicitors as a result. The other main issue is the extent of the remedies available - an aggrieved buyer is very unlikely to secure injunctive relief to stop the vendor selling to another buyer, so the only remedy available under the agreement will be the recovery of abortive charges and, in rare scenarios, the extra payment of penalties.
It is 10 years ago since I bought my house in Farnham Common. Conveyancing solicitors have just been instructed on the sale but I am unable to find my title deeds. Will this cause complications?
Don’t worry too much. First the deeds may be with the mortgage company or they could be in the possession of the conveyancers who oversaw your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Farnham Common relates to registered property but in the rare situation where your home is unregistered it is more of a problem but is resolvable.
My stepmother advised me that in buying a property in Farnham Common there may be a number of restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Farnham Common which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Farnham Common should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Farnham Common. A rare aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nationwide your lawyer must comply with the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease fails to comply with these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Farnham Common.
I have decided to exercise my right to buy my property in Farnham Common off the council. I have a mortgage offer with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I need some expedited conveyancing in Farnham Common as I am under a deadline to sign on the dotted line inside one month. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are are a cash purchaser you are at free not to do searches although no lawyer would advise that you don't. Drawing on years of experience of conveyancing in Farnham Common the following are instances of what can arise and therefore impact future saleability: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Farnham Common I like with open areas and transport links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Farnham Common suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 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 current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My husband and I are a couple of weeks into a residential purchase having been recommend to a firm by the local agent to handle our conveyancing in Farnham Common. We are not happy. Can you you assist me in finding new lawyers?
They would have to be really bad to suggest diss instructing them. Has your mortgage been generated? If so you need to inform them of the new lawyer and ensure the mortgage documents are re-sent. Your conveyancer needs to be on the lenders panel to avoid escalating charges and frustration. So that should be your starting point. The search tool can help you find a bank approved solicitor for your conveyancing in Farnham Common