The sellers of the home we are hoping to buy have appointed a conveyancing firm in Hook who has recommended a exclusivity agreement with a down payment 10k. Is it wise to enter into such agreements?
This form of contract isn't common in Hook, conveyancers are not keen on them as they detract from the primary objective, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the owner has executed a lock out contract they will sell to you. They may breach the agreement if they receive sufficient offer to do so because a wronged claimant with the benefit of a exclusivity agreement will still be duty bound to show losses as a consequence of the breach and these may not amount to the extra amount that your seller may obtain by breaching the contract, no matter how morally unworthy the behaviour is.
The Hook conveyancing firm that I recently instructed on my house acquisition in Hook have without warning closed. They were on acting for me because I had to have a lawyer on the Coventry BS conveyancing panel and my preferred Hook lawyer was not. I paid them £170 on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Coventry BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Do commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in Hook?
Many commercial conveyancing solicitors in Hook will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Hook. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hook.
For every commercial conveyancing transaction in Hook it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Hook commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Hook.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Hook I like with amenity areas and station in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Hook suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
How simple is it to swap firm as I have to choose one who is on the Santander conveyancing list. I hired a family conveyancing solicitor in Hook round the corner but the firm is not approved by Santander
We will our best to assist in finding you a conveyancing solicitor in Hook on the Santander panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Hook. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Hook.
I am the registered owner of a garden flat in Hook. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Absolutely. We can put you in touch with a Hook conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hook premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
What are the common defects that you come across in leases for Hook properties?
There is nothing unique about leasehold conveyancing in Hook. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
