The vendors of the house we are hoping to buy have instructed a conveyancing practitioner in Bethnal Green who has suggested a preliminary contract with a deposit 10k. Is it wise to enter into such agreements?
There are a couple of primary concerns with signing a lock out agreement (also known as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing work, so in the absence of it needing limited or no negotiation then it may transpire to be unhelpful. It is not promoted by Bethnal Green conveyancing lawyers as a result. The other main concern is the extent of the remedies available - a jilted buyer is not likely to be issued with injunctive relief to bar the vendor completing the sale to another buyer, so the only remedy available under the contract will be the reimbursement of abortive charges and, in limited circumstances, the additional payment of damages.
It has been 3 months following my purchase conveyancing in Bethnal Green completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Bethnal Green is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bethnal Green are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bethnal Green you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bethnal Green may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Hoping to buy a property located in Bethnal Green and I am already nervous. I couldn't find anything specific about Bethnal Green. Conveyancing will be needed in due course but do you know about the Bethnal Green area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bethnal Green. In the meantime here are some basic statistics that we found
My father-in-law has recommend that I use his conveyancers in Bethnal Green. Should I find my own conveyancer?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to have guidance from friends or family who have actually used the solicitor you're contemplating using.
I am a negotiator for a busy estate agent office in Bethnal Green where we have experienced a number of flat sales derailed as a result of short leases. I have been given inconsistent advice from local Bethnal Green conveyancing solicitors. Please can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have given up trying to reach an agreement for a lease extension in Bethnal Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the sum to be paid.
An example of a Lease Extension case for a Bethnal Green residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The number of years remaining on the existing lease(s) was 72.39 years.