The owners have very brash vendors who has recommended a preliminary agreement with a down payment 6,000. Is it wise to enter into such agreements?
Exclusivity agreements are contracts binding a home vendor and purchaser granting the buyer a ‘clear field’ to the sale of the property for a set period of time. Essentially, a lock out agreement is a contract specifying that you will be issued with a contract at a later date being the main conveyancing contract. It tends to be used for buyer protection though in many situations, the seller may enjoy an upside from such agreements as well. There are many pros and cons to using an agreement but you need to check with your conveyancer but beware that it may end up costing you extra in conveyancing fees. For these reasons these contracts are not popular when it comes to conveyancing in Christchurch.
Finally the sale completed on my house in Christchurch last February but my buyer keeps SMS messaging daily to say her conveyancer needs to hear from mine. What should have happened following completion?
Post completion of your disposal your solicitor is obliged to deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. If applicable, your solicitor should also send confirmation that the legal charge in favour of the lender has been redeemed to the buyers solicitors. There is unlikely to be post completion requirements peculiar conveyancing in Christchurch.
What will a local search tell me about the house we're purchasing in Christchurch?
Christchurch conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search plays a central role in most Christchurch conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (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 thirteen subject sections.
The deeds to my house are lost. The lawyers who conducted the conveyancing in Christchurch 10 years ago no longer exist. What are my options?
You no longer need to have the physical original deeds to prove you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
I'm purchasing a new build house in Christchurch benefiting from help to buy. The sellers refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep advised me not disclose to my lawyer about this side-deal as it could impact my mortgage with The Royal Bank of Scotland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 basement apartment in Christchurch. Conveyancing has not commenced, however I have recently received a yearly service charge demand – Do I pay up?
The sensible thing to do is clear the maintenance contribution as normal given that all ground rent and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice 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 own a ground floor flat in Christchurch, conveyancing having been completed 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 yearly. The lease runs out on 21st October 2094
With just 68 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.