The owners have very assertive vendors who has recommended a preliminary agreement with a payment 6,000. Are such agreements sensible?
Lock out contracts are agreements between a home seller and prospective acquirer granting the buyer exclusive rights to purchase the property for a limited period of time. Essentially, a lock out agreement is a contract stating that you will have a contract at a later date which is the contract for the actual sale. It is generally used for buyer protection though in some cases, the vendor may stand to benefit 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 result in costing you more in conveyancing fees. In light of these reasons these agreements are rare in relation to conveyancing in Queenborough.
Can you explain why leasehold purchase conveyancing in Queenborough is more expensive?
Queenborough leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather use a Queenborough based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you accept the "fee-free" deal. Contact the mortgage company and ask if they make available a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Queenborough.
I am intent on selling our house in Queenborough and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street Queenborough lawyer would know that there is no such problem. It does beg the question why the purchasers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Queenborough. Having lived in Queenborough for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should 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 have been on the look out for a flat up to £235,500 and identified one near me in Queenborough I like with open areas and station in the vicinity, however it's only got 51 years on the lease. There is not much else in Queenborough for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
My father has encouraged me to instruct his conveyancers in Queenborough. Should I choose my own solicitor?
Much as we are happy to recommend a Queenborough conveyancing lawyer the ideal way to select a conveyancing lawyer is to have referrals from friends or relatives who have actually previously instructed the solicitor you're contemplating using.