The sellers of the house we are looking to purchase have instructed a conveyancing solicitor in West Harrow who has suggested a lock out agreement with a deposit two thousand pounds. Are such agreements sensible?
This type of contract is unusual in West Harrow, conveyancers are often inclined to direct clients away from them as they detract from focusing on the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no certainty that just because the seller has signed a lock out contract they will sell to you. They may breach the agreement if they receive sufficient incentive to do so because an aggrieved purchaser with the benefit of a exclusivitycontract will still be duty bound to show losses as a consequence of the breach and these may not equate the extra amount that your vendor may secure by breaching the contract, however morally shameful that may be.
Finally the sale completed on my house in West Harrow last March but our buyer keeps texting every few hours complaining that her conveyancer is waiting to hear from mine. What should have happened now that I have sold?
After completion of your house sale your lawyer should forward the transfer documentation and all additional paperwork to the buyer’s lawyers. If applicable, your lawyer must also confirm that the home loan has been paid off to the buyers lawyers. There are no post completion formalities unique to conveyancing in West Harrow.
Please help - my lawyer advises that lack of building regulations insurance is required on my purchase. What is the level of cover for West Harrow conveyancing?
The right level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between Halifax and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
When it comes to lenders such as RBS, do West Harrow lawyers have to pay an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We are getting a further advance on our home loan from Virgin Money as we wish to carry out improvements to our property in West Harrow. Do we need to appoint a bricks and mortar West Harrow solicitor on the Virgin Money conveyancing panel to deal with the legals?
Virgin Money would not normally require firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money panel.
I have been on the look out for a ground for flat up to £195,000 and identified one close by in West Harrow I like with open areas and station in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in West Harrow for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Should I go with a West Harrow conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can deal with the legal formalities but her office is 300miles drive away.
The primary upside of using a local West Harrow conveyancing firm is that you can visit the firm to sign documents, present your ID and apply pressure on them where appropriate. They will also have local knowledge which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were impressed that should trump using an unknown West Harrow conveyancing solicitor solely due to them being round the corner.
Estate agents have just been given the go-ahead to market my basement flat in West Harrow. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly service charge invoice – Do I pay up?
It best that you discharge the service charge as usual because all rents and service charges should be allotted 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. Having a clear account will assist your cause and will leave you no worse off financially.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a West Harrow conveyancing firm to represent me?
Most definitely. We are happy to put you in touch with a West Harrow conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Harrow residence is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case affected 1 flat. The unexpired term was 75.25 years.