The sellers of the house we are purchasing have appointed a conveyancing solicitor in Studley who has recommended a lock out agreement with a non-refundable deposit of 5k. Is it wise to enter into such agreements?
Lock out contracts are agreements binding a home vendor and purchaser granting the buyer the sole right to the sale of the property within a prescribed time frame. Essentially, an exclusivity agreement is a contract specifying that you should receive a contract at a later date being the contract for the actual sale. It is generally utilised for buyer confidence though in many situations, the owner may stand to benefit from such agreements as well. There are numerous pros and cons to using them but you need to check with your solicitor but note that it may result in costing you more in conveyancing fees. In light of this these contracts are rare when it comes to conveyancing in Studley.
Is there a list of Bank of Ireland panel solicitors in Studley on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings available over the internet. If you are seeking to appoint a Studley conveyancing practitioner on the Bank of Ireland please make the most of our facility.
My wife and I are in the process of viewing apartments in Studley and I am now considering a potential offer. Should I already have a lawyer in place at this point? I am planning to take a mortgage with Skipton.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
I have decided to exercise my right to buy my property in Studley off the council. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
My partner and I are downsizing from our property in Studley and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the buyers are using an online conveyancing practice as opposed to a conveyancing solicitor in Studley. Having lived in Studley for three years we know of no issue. Do we contact our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to enquire of 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 health insurance to cover that same illness)
Just had an offer accepted on a new build apartment in Studley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions 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 Studley
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Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Studley I like with a park and station nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Studley suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
We are a fortnight into a freehold purchase having been referred to conveyancers by the selling agent to carry out the conveyancing in Studley. I am am very disappointed with the level of service. Could you you assist me in finding new lawyers?
They would have to be very poor to suggest replacing them. Has the mortgage offer been sent? If so you will need to inform them of the new contact details and have the mortgage documents are re-issued. Your solicitor ideally should be on the lenders panel to avoid escalating expenses and delays. That should be your first question of the new solicitors. Our find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Studley