We have rather assertive vendors who has suggested a lock out agreement with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
There are a couple of main downsides with entering into any lock out agreement (sometimes known as a no-shop agreement) is that it takes away the focus from moving forward with the conveyancing process, so unless it requires minimal or no negotiation then it could turn out to be a hindrance. It is not promoted by Crayford conveyancing practitioners as a result. The other main negative is the extent of the remedies available - an aggrieved buyer is not likely to be issued with an injunctive ruling by a court to stop the owner completing the sale to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of wasted costs and, in rare scenarios, the extra payment of penalties.
My wife and I have recently appointed a conveyancing solicitor in Crayford. I I would like to check whether they are on the Barclays Direct conveyancing panel. Can you assist?
The first thing you should do is call the solicitor and enquire whether they are on the lender panel. Alternatively you can call Barclays Direct who may be able to help.
My wife and I are purchasing a house in Crayford. I might seem paranoid but how we can trust a solicitor? At some point we have to send money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Crayford conveyancing solicitors on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
We are getting a further advance on our home loan from Co-operative as we intend to carry out a loft conversion to our property in Crayford. Do we need to appoint a high street Crayford solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative would not normally instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Crayford?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Crayford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a flat up to £245,000 and found one near me in Crayford I like with open areas and transport links nearby, however it's only got 52 years unexpired on the lease. There is not much else in Crayford for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
What does commercial conveyancing in Crayford cover?
Commercial conveyancing in Crayford covers a wide range of services, given by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.