The vendors of the property we are purchasing have appointed a conveyancing firm in North Sheen who has recommended a lock out contract with a down payment 6,000. Is it wise to enter into such agreements?
Exclusivity contracts are agreements between a home vendor and prospective acquirer giving the buyer the sole right to purchase the premises for a set period of time. Essentially, a lock out agreement is a contract stating that you should be issued with a contract at a later date which is the main conveyancing contract. It is generally used for buyer protection though in some cases, the proprietor may enjoy an upside from such agreements as well. There are various pros and cons to using them but you should to check with your lawyer but note that it may end up costing you extra in conveyancing charges. For this these contracts are avoided when it comes to conveyancing in North Sheen.
Completed the sale of my flat in North Sheen last September but my buyer keeps calling me to moan that her lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Post completion of your disposal your conveyancer is committed to forward the transfer documentation and all additional paperwork to the purchaser's conveyancer. If applicable, your conveyancer should also confirm that the home loan has been redeemed to the purchasers lawyers. There is unlikely to be post completion tasks specific conveyancing in North Sheen.
What will a local search reveal about the property we're buying in North Sheen?
North Sheen conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every North Sheen conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I'm buying a new build house in North Sheen benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my conveyancer about the deal as it would jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What tools are available to identify a North Sheen solicitor on the Virgin Money conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the lawyer.
You can use the facility on this website. Please select a bank and your location and you will see a number of North Sheen conveyancing lawyers based on proximity. We have detailed some North Sheen conveyancing firms at the bottom of this page and you can call them to check whether they are on the Virgin Money approved list
Last September I purchased a leasehold house in North Sheen. Am I liable to pay 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 lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
I am the proprietor of a garden flat in North Sheen. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
You certainly can. We are happy to put you in touch with a North Sheen conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a North Sheen premises is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case was in relation to 1 flat. The unexpired term as at the valuation date was 68.34 years.