The owners of the house we are hoping to buy have instructed a conveyancing solicitor in Greenwich who has recommended a exclusivity contract with a down payment 10k. Is it wise to enter into such agreements?
There are a couple of main downsides with executing a lock out contract (sometimes referred to as a shut-out contract) is that it diverts attention away from moving forward with the conveyancing work, so unless it requires minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not promoted amongst Greenwich conveyancing solicitors for this reason. A supplemental negative is the extent of the remedies available - a jilted purchaser is not likely to win an injunction to bar the seller disposing of the property to another buyer, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in restricted situations, the extra payment of damages.
My colleague suggested that where I am purchasing in Greenwich I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Greenwich conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Greenwich around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Greenwich Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data concerning Greenwich.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Greenwich. Conveyancing is necessary evil 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 is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Greenwich
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants.
I decided to have a survey carried out on a house in Greenwich ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some banks will refuse to give a loan on this type of premises.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Greenwich. Conveyancing will be smoother if you use a solicitor in Greenwich especially if they are familiar with such properties in Greenwich.
I am selling my house. My former solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Greenwich if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Greenwich. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I've recently bought a leasehold house in Greenwich. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a a ground floor purpose built flat in Greenwich. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Greenwich conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Greenwich premises is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The unexpired lease term was 72 years.