The owners of the property we are looking to purchase are using a conveyancing firm in Olney who has suggested a exclusivity contract with a deposit 6,000. Is it wise to enter into such agreements?
This kind of agreement isn't common in Olney, conveyancers will often direct clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the seller has entered into a lock out contract they will sell to you. They may be in contravention of the contract if they receive sufficient financial inducement to do so because an aggrieved buyer with the benefit of a exclusivity agreement will still have to show losses as a consequence of the breach and this may not compare to the financial benefit that your seller may secure by breaching the contract, however morally shameful it undoubtedly is.
We see that you have a post code search directory listing firms on the UBS conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Olney?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Olney.
I just bought a flat at auction in Olney. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you will need to appoint a conveyancing lawyer quickly as you will have a fast approaching deadline in which to complete the conveyancing. An auction property should have an associated legal pack. This will likely include most,if not all of the documents that your lawyer will need. If you have purchased leasehold premises the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You need to hand this to the solicitor working for you at the earliest opportunity. You also need to ensure that your finances are in place to complete on the date specified in the contract.
My lawyer has informed me that chancel insurance is required on my purchase. What is the level of cover for Olney conveyancing?
The right level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such policies.
After what feels like an age I have had an offer on a maisonette in Olney agreed to, the sellers do nevertheless have a tied purchase. The vendors have offered on a flat, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Olney. What should be my next step? At what stage should I apply for the mortgage with UBS?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Olney conveyancing search costs, etc). First, you should ensure that your conveyancing practitioner is on the UBS conveyancing panel. As to the subsequent steps this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. During a buoyant market some home buyers would apply for a home loan with UBS and pay for the valuation and only if it was satisfactory would they request their conveyancer to proceed with searches.
My wife and I are downsizing from our house in Olney and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing practice rather than a conveyancing solicitor in Olney. Having lived in Olney for three years we know of no issue. Do we get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I am a sole trader hoping to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering no-sale-no fees for commercial conveyancing in Olney for less than £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Olney, including the disposal and purchase of businesses as well as simply premises. If you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right firm. As for the charges these will vary based on the structure and terms of the deal. Please provide us with your details or email so as to enable us to provide you with comprehensive commercial conveyancing calculation.
I have just started marketing my basement apartment in Olney. Conveyancing lawyers have not yet been instructed, but I have recently had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal given that all rents and maintenance charges should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a 1st floor flat in Olney, conveyancing formalities finalised in 2012. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Olney with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2084
With only 62 years unexpired the likely cost is going to range between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.