We have very assertive sellers who has suggested a exclusivity agreement with a down payment two thousand pounds. Are such agreements sensible?
There are two main downsides with executing a lock out agreement (also termed an exclusivity agreement) is that it can distract from making progress with the conveyancing work, so unless it requires limited or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular amongst Kingsland conveyancing practitioners as a result. A supplemental negative is the extent of the remedies available - a jilted buyer is extremely unlikely to secure injunctive relief to bar the vendor selling to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in limited circumstances, the extra payment of damages.
Completed the sale of my flat in Kingsland last March but our buyer keeps whats apping daily to moan that their lawyer needs to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your solicitor is committed to deliver the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your solicitor must also confirm that the legal charge in favour of the lender has been paid off to the buyers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Kingsland.
I am buying a terraced house in Kingsland. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Kingsland you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Kingsland.
In scouring the internet for the words on line conveyancing in Kingsland it reveals numerous solicitorsin the vicinity. How do I determine which is the right property lawyer for the sale of my house?
The ideal method of seeking the right conveyancer is via trusted testimonial, so enquire of colleagues and those you trust who have purchased a property in Kingsland or the reputable estate agent or mortgage broker. Fees for conveyancing in Kingsland differ, so it's sensible to obtain a minimum of three fee estimates from varying types of conveyancers. Make sure that you know that the charges are assured not to rise.
I am looking at a couple of maisonettes in Kingsland which have about fifty years remaining on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.
I am the proprietor of a two-bedroom flat in Kingsland. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to decide the sum to be paid.
An example of a Lease Extension case for a Kingsland flat is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The remaining number of years on the lease was 80.5 years.
I am an executor of my recently deceased mother’s Will, with a bungalow in Kingsland which will be sold. The property is unregistered at the Land Registry and I'm told that some estate agents will insist that it is completed before they will proceed. What's the procedure for this?
In the situation that you have set out it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.