We have very brash sellers who has insisted on a exclusivity contract with a non-refundable deposit 6,000. Are such contracts generally advanced for Newent conveyancing transactions?
There are two main drawbacks with entering into any lock out agreement (sometimes referred to as a shut-out contract) is that it diverts attention away from progressing with the conveyancing process, so unless it requires little or no negotiation then it may transpire to be a hindrance. It is not strongly advocated by Newent conveyancing practitioners as a result. A further concern is the extent of the remedies available - an aggrieved purchaser is not likely to secure an injunctive ruling by a court to prevent the seller selling to a third party, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in restricted situations, the extra payment of penalties.
Is there a reason why leasehold purchase conveyancing in Newent is more expensive?
In summary, leasehold conveyancing in Newent and Gloucestershire usually necessitates additional hours of investigation compared to freehold conveyancing. This includes checking the lease terms, corresponding with the landlord about the service of required notices, securing up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
I decided to have a survey carried out on a house in Newent before appointing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Newent. Conveyancing may be slightly more expensive based on your lender's requirements.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Newent and how can you help?
The 1954 Act provides a safeguard to business leaseholders, giving them the right to apply to court for a new tenancy and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Newent is one of our many locations in which our lawyers have offices
As co-executor for the estate of my grandmother I am disposing of a residence in Newport but live in Newent. My conveyancer (based 260 kilometers awayrequires that I sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Newent who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Newent
Do lenders provide you with an approved list of Newent solicitors? How do you know who is on the lender conveyancing panel?
Newent firms and firms conducting conveyancing in Newent themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the bank directly.