The vendors of the property we are hoping to buy are using a conveyancing firm in Cippenham who has insisted on a exclusivity agreement with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
Exclusivity contracts are agreements between a property seller and prospective buyer granting the buyer exclusive rights to the sale of the property for a set period of time. Essentially, an exclusivity is a document specifying that you should have a contract at a later date being the contract for the actual sale. It tends to be used for buyer assurance though in some cases, the owner may enjoy an upside from such agreements as well. There are various positives and negatives to using an agreement but you need to check with your conveyancer but beware that it may result in incurring extra in conveyancing charges. In light of these reasons these agreements are rare in relation to conveyancing in Cippenham.
There are a variety of conveyancing solicitors in Cippenham but how do I know who I should use?
Do not opt for the lowest Cippenham conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am currently in the process of buying my council flat in Cippenham. I have a mortgage offer with Co-operative. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
My offer on a semi in Cippenham has been accepted, but there is a chain. The vendors have offered on a property, but it’s not yet agreed to, and are looking at other properties in the pipeline. I have chosen a local conveyancing solicitor in Cippenham. What should be my next step? When should I get the mortgage application with Yorkshire BS started?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then valuation, Cippenham conveyancing search costs, etc). First, you should check that your property lawyer is on the Yorkshire BS approved list. Regarding the subsequent steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a rising market the majority of home buyers will apply for the mortgage with Yorkshire BS and arrange for the valuation and only if it comes back ok would they ask their property lawyer to proceed with searches.
I have been told that property searches are the primary reason for obstruction in Cippenham house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Cippenham.
I'm buying a new build house in Cippenham benefiting from help to buy. The sellers refused to reduce the price so I negotiated 6k of extras instead. The estate agent told me not disclose to my lawyer about this side-deal as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450,000 maisonette in Cippenham next Wednesday. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Cippenham?
Cippenham conveyancing on leasehold maisonettes more often than not involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are at liberty to invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Cippenham Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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Is anyone aware of any major works in the near future that will likely add a premium to the service charges? How much is the yearly service fee and ground rent? Is there a share of the freehold?
The property lawyers undertaking our conveyancing in Cippenham has sent papers to review that state the land is unregistered with epitome documents. Why is the property not registred at the Land Registry?
Whilst most properties in Cippenham are now registered with HM Land Registry there are still a few that are unregistered. Any property in Cippenham that has been purchased since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a Cippenham property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Cippenham conveyancing lawyers should be familiar with this type of conveyancing but in the event that uncertainty exists the conventional guidance these days is for the current owners to undertake the registration formalities first and then deal with the dispose of the property to the purchaser - this will have a domino effect to cause a significant delay.