We have very pushy sellers who has insisted on a preliminary contract with a down payment 10k. Are such agreements sensible?
There are a couple of main downsides with entering into any lock out agreement (also known as a no-shop agreement) is that it can distract from making progress with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it could turn out to be a cause of frustration and delay. It is not promoted by Greater Manchester conveyancing solicitors as a result. A supplemental concern is the extent of the remedies available - a jilted purchaser is not likely to win an injunctive ruling by a court to stop the seller disposing of the property to a third party, so the only remedy available under the contract will be the recovery of wasted charges and, in limited circumstances, the additional payment of penalties.
I am buying a flat and require a conveyancing solicitor in Greater Manchester who is on the Skipton Building Society solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Skipton Building Society in certain locations such as Greater Manchester. We dont recommend any particular firm.
Just had an offer accepted on a new build flat in Greater Manchester. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Greater Manchester
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants.
I need to find a conveyancing solicitor for some conveyancing in Greater Manchester. I've stumble upon a site which seems to have the perfect answer If it is possible to get all this stuff completed via web that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What makes a Greater Manchester lease problematic?
There is nothing unique about leasehold conveyancing in Greater Manchester. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the building Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.
I acquired a 2 bed flat in Greater Manchester, conveyancing formalities finalised in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Greater Manchester with over 90 years remaining are worth £221,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2095
With just 70 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
I am about to exchange on the purchase a house in Greater Manchester but as a consequence of wreckage from the recent storms I have negotiated recompense from the seller of £2k taking the form of a deduction in the price. This was going to be addressed as part of the conveyancing process yet my bank will not permit this. Should they have been approached?
Any solicitor listed on a mortgage company approved list is duty bound to inform the mortgage company of any variations to the sale price. In the event that you did not allow your conveyancer to notify the reduction to your bank then they would have to discontinue acting for you and the bank.