We have very assertive vendors who has insisted on a lock out agreement with a deposit of 5k. Is it wise to enter into such agreements?
There are a couple of main downsides with signing a lock out agreement (also known as a shut-out contract) is that it can distract from progressing with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not promoted by North Woolwich conveyancing practitioners as a result. A supplemental negative is the extent of the remedies available - a jilted buyer should not expect to be granted an injunction to prohibit the owner completing the sale to an alternative purchaser, so the only remedy open via the contract will be the reimbursement of abortive charges and, in limited situations, the extra payment of damages.
My wife and I own a semi-detached Georgian house in North Woolwich. Conveyancing lawyer represented me and Britannia. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North Woolwich and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing solicitor who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. North Woolwich is the location of the property. What do you suggest?
Flying freeholds in North Woolwich are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in North Woolwich you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Woolwich may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I was advised by a number of property agents in North Woolwich to choose a conveyancer on your site. Is there a financial upside for Estate Agents to offer your lawyers rather than another?
We refuse to offer any referral fee for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to retain a conveyancing solicitor for freehold conveyancing in North Woolwich. I have land on a site which looks to be the perfect answer If it is possible to get all the legals completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
How does one as executor remove a deceased person's name from the title register for a property in North Woolwich?
Where a North Woolwich property is jointly owned and one of the proprietors passes away, their name will not automatically be removed from the title deeds. You are not required to remove their name as when it comes to a disposal your conveyancer would simply be asked to evidence as to the reason the other proprietor is not a party to the conveyance, such as a grant of probate.
With a view to making the sale conveyancing smoother in the future you can arrange to have the deceased party removed from the title register by applying to HM Land Registry with evidence of the death. There is no land registry fee payable.