The owners of the house we are hoping to buy have instructed a conveyancing firm in Coleford who has insisted on a lock out agreement with a deposit 6,000. Is it wise to enter into such agreements?
Exclusivity contracts are contracts between a home vendor and prospective acquirer granting the buyer a ‘clear field’ to the sale of the premises within an agreed time frame. For all intents and purposes, an exclusivity agreement is a contract specifying that you should be issued with a contract at a later time being the main conveyancing contract. It is generally used for buyer confidence though in many situations, the seller may enjoy an upside from such agreements as well. There are many positives and negatives to having an agreement but you need to check with your lawyer but note that it may end up incurring more in conveyancing charges. In light of these reasons these contracts are avoided in relation to conveyancing in Coleford.
I own a freehold property in Coleford yet charged rent, why is this and what is this?
It’s unusual for properties in Coleford and has limited impact for conveyancing in Coleford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
What will a local search reveal regarding the house we're buying in Coleford?
Coleford conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search plays an important part in many a Coleford conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant 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 headings.
I used Stirling Law a few years past for my conveyancing in Coleford. Now, I need my files however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Coleford of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Coleford is where the house is located. Is there any guidance you can give?
Flying freeholds in Coleford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Coleford you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Coleford 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 property.
We are 17 days into a residential purchase having been directed to solicitors by the selling agent to execute conveyancing in Coleford. I am am starting to be disappointed with the quality of service. Can you help me find new lawyers?
A lawyer would have to be very bad in order to consider diss instructing them. Has your loan offer been generated? In the event that it has you need to make them aware of the new lawyer and get the loan are re-sent. Your solicitor ideally should be on the banks panel to avoid supplemental charges and delays. So that should be your first question of the new lawyers. Our find a solicitor tool can help you find a lender approved conveyancer for your conveyancing in Coleford