We have very assertive vendors who has suggested a lock out agreement with a deposit two thousand pounds. Are such agreements sensible?
Lock out contracts are contracts between a home vendor and purchaser granting the buyer the sole right to the sale of the premises for a set period of time. For all intents and purposes, a lock out agreement is a contract specifying that you should have 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 vendor may stand to benefit from such agreements as well. There are numerous pros and cons to having them but you need to check with your conveyancer but note that it may result in costing you more in conveyancing charges. In light of these reasons these contracts are not popular in relation to conveyancing in Teddington.
Will my lawyer be making enquiries regarding flooding as part of the conveyancing in Teddington.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Teddington. There are those who buy a property in Teddington, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or by their solicitors which should figure out the risks in Teddington. The standard completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to find out whether the premises has historically flooded. In the event that flooding has previously occurred which is not notified by the owner, then a purchaser may bring a claim for damages as a result of such an inaccurate reply. The purchaser’s conveyancers should also conduct an enviro search. This will reveal whether there is any known flood risk. If so, additional investigations should be conducted.
Are there restrictive covenants that are commonly identified during conveyancing in Teddington?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Teddington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build apartment in Teddington. 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 legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Teddington
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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. 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 decided to have a survey done on a property in Teddington ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies tend not issue a loan on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Teddington. Conveyancing will be smoother if you use a solicitor in Teddington especially if they are acquainted with such properties in Teddington.
I have recently realised that I have 62 years left on my lease in Teddington. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. For most situations a specialist should be helpful to conduct investigations and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Teddington.
I inherited a two-bedroom flat in Teddington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Teddington residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.