The owners have very pushy sellers who has recommended a lock out agreement with a non-refundable deposit of 5k. Are such arrangements the norm for Norbury conveyancing transactions?
There are a couple of main drawbacks with executing a lock out agreement (sometimes termed a shut-out contract) is that it diverts attention away from making progress with the conveyancing work, so in the absence of it needing limited or no negotiation then it could transpire to be a hindrance. It is not particularly popular amongst Norbury conveyancing lawyers as a result. The other main concern is the extent of the remedies available - an aggrieved purchaser is not likely to win an injunction to prevent the seller disposing of the property to an alternative purchaser, so the only remedy open via the contract will be the recovery of wasted charges and, in limited scenarios, the additional payment of damages.
Should my conveyancer be making enquiries concerning flooding as part of the conveyancing in Norbury.
Flooding is a growing risk for solicitors dealing with homes in Norbury. There are those who buy a house in Norbury, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a number of searches that can be initiated by the buyer or by their conveyancers which should give them a better understanding of the risks in Norbury. The conventional set of completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to discover whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a purchaser could commence a legal claim for losses as a result of such an misleading answer. The purchaser’s conveyancers should also carry out an environmental search. This should indicate if there is a recorded flood risk. If so, further investigations will need to be initiated.
Have purchased a a semi-detached house in Norbury , What is the estimated time for the Land Registry to record my ownership? My Norbury conveyancing solicitor works at snail pace, so I want to be sure the post completion formalities are dealt with.
There is nothing unique about conveyancing in Norbury registration formalities. Rather than based on location, timescales can vary subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. Currently roughly 80% of submission are completed within 12 days but some can be subject to protracted delays. Registration is effected once the new owner has moved in to the premises so 'speed' is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build apartment in Norbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Norbury
Please confirm the Lease plans are surveyor prepared. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I need to instruct a conveyancing lawyer in Norbury for my purchase. Is there any facility to check a firm’s complaints history with the profession’s regulator?
Anyone can review presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training purposes.
Back In 2003, I bought a leasehold house in Norbury. Conveyancing and The Mortgage Works mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Norbury who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Norbury conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have given up trying to purchase the freehold in Norbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Norbury conveyancing firm who can help.
An example of a Lease Extension decision for a Norbury residence is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case was in relation to 1 flat. The unexpired term as at the valuation date was 23.25 years.