The owners have very pushy vendors who has suggested a exclusivity agreement with a deposit two thousand pounds. Are such contracts recommended for Christchurch conveyancing transactions?
There are a couple of primary downsides with executing a lock out contract (also known as a shut-out contract) is that it can distract from progressing with the conveyancing work, so in the absence of it needing minimal or no negotiation then it could turn out to be unhelpful. It is not strongly advocated by Christchurch conveyancing solicitors as a result. The other main concern is the extent of the remedies available - a jilted buyer should not expect to secure an injunctive ruling by a court to prevent the vendor disposing of the property to an alternative purchaser, so the only remedy available under the contract will be the recovery of wasted charges and, in limited circumstances, the additional payment of damages.
Finally the sale completed on my house in Christchurch last March but our buyer keeps telephoning daily to moan that his solicitor is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Following your sale your lawyer is obliged to forward the transfer documentation and all additional paperwork to the purchaser's solicitors. Where relevant, your solicitor should also confirm that the home loan has been redeemed to the buyers lawyers. There is unlikely to be post completion procedures peculiar conveyancing in Christchurch.
What can a local search inform me concerning the property I am buying in Christchurch?
Christchurch conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Onsearch The local search plays an important role in many a Christchurch conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
The deeds to my property are lost. The solicitors who handled the conveyancing in Christchurch 4 years ago are no longer around. Will I be able to sell the house?
Nowadays there are duplicates made of almost everything, and your lawyer should know exactly where to find all the appropriate paperwork so you can purchase or sell your property without a hitch. Where copies are not available, your lawyer can arrange cover in the form of insurance or indemnities against future claims on the property.
I am buying a new build house in Christchurch with a loan from Godiva Mortgages Ltd. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my lawyer about this deal as it will affect my mortgage with Godiva Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have just appointed agents to market my garden flat in Christchurch. Conveyancing solicitors are to be appointed soon, but I have recently had a half-yearly service charge demand – what should I do?
The sensible thing to do is clear the service charge as usual as all rents and service charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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 own a 2 bed flat in Christchurch, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Christchurch with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2094
With just 68 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.