The sellers of the house we are purchasing have instructed a conveyancing firm in Northwood who has recommended a preliminary agreement with a down payment 6,000. Are such agreements appropriate for Northwood conveyancing transactions?
Lock out contracts are contracts between a property seller and prospective buyer giving the buyer exclusive rights to purchase the premises within a prescribed time frame. Essentially, an exclusivity is a document specifying that you should be issued with a contract at a later date which is the main conveyancing contract. It tends to be used for buyer confidence though in some cases, the proprietor may enjoy an upside from such agreements as well. There are various positives and negatives to having them but you should to check with your lawyer but beware that it may end up incurring more in conveyancing fees. For this these agreements are avoided in relation to conveyancing in Northwood.
We're in Northwood, First time buyers buying with a mortgage (lender is TSB , and our lawyer is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
A relative suggested that if I am purchasing in Northwood I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Northwood conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Northwood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Northwood Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Northwood.
It has been 3 months following my purchase conveyancing in Northwood took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Northwood. Conveyancing is necessary evil 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 are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Northwood
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. 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. There must be mutual enforceability of lessee’s covenants.
Given that I will soon spend hundreds of thousands of pounds on a house in Northwood I wish to talk to a conveyancer about mytransaction prior to giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you first talking to the lawyer due to be conducting your property ownership legalities in Northwood.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The solicitors that we put you in touch with believe that the figure you are provided with for residential conveyancing in Northwood should be the figure that you end up paying.