Our family lawyer has sent a quote for £1150 for no sale no fee conveyancing in Locks Heath. I’m selling a Edwardian detached home for £250,000. Is this overpriced? Is it above what I should be paying for conveyancing in Locks Heath?
The estimate does seem marginally steep. If you shop around you might reduce the fees marginally by say a hundred pounds. On the other hand, you couldcome to regret choosing an an unknown solicitor. Don't forget to ensure that the conveyancer can also act for your mortgage company. Do utilise our search tool to get a quote a Locks Heath conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Locks Heath.
The vendors of the house we are looking to purchase hired a conveyancing solicitor in Locks Heath who has suggested a lock out contract with a non-refundable deposit 6,000. Are such agreements sensible?
Lock out contracts are agreements between a property seller and prospective acquirer giving the buyer exclusive rights to purchase the property within a prescribed time frame. For all intents and purposes, an exclusivity is a document stating that you will receive a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer protection though in many situations, the seller may enjoy an upside from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your lawyer but beware that it may end up incurring more in conveyancing fees. In light of these reasons these agreements are not popular in relation to conveyancing in Locks Heath.
My apartment in Locks Heath is up for sale and I have a purchaser. Does my solicitor have to be required to be on the Coventry BS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
My partner and I are intent on selling our house in Locks Heath and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a web based conveyancing outfit rather than a conveyancing solicitor in Locks Heath. We have lived in Locks Heath for 5 years we know of no issue. Do we contact our local Authority to seek clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have been on the look out for a flat up to £195,000 and found one near me in Locks Heath I like with amenity areas and station nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Locks Heath suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I've recently bought a leasehold flat in Locks Heath. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Locks Heath Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
The majority of Locks Heath leasehold apartments will have a service bill for the upkeep of the block set by the management company. Where you purchase the apartment you will have to meet this charge, normally periodically during the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge to be met annual, this is usually not a exorbitant sum, say approximately £50-£100 but you need to check it because on occasion it could be prohibitively expensive. Best to be warned whether window replacement or some other major work is coming up to be shared by the leaseholders and could well dramatically increase the the maintenance fees or require a specific invoice. Make sure you discover if there are any onerous prohibitions in the lease. For example some leases prohibit pets being allowed in in a block in Locks Heath. If you love the flatin Locks Heath yet your dog can’t live with you then you will be faced hard compromise.