We have rather pushy vendors who has insisted on a preliminary agreement with a down payment of 5k. Are such arrangements appropriate for East Dulwich conveyancing transactions?
Exclusivity contracts are agreements between a home seller and prospective buyer giving the buyer exclusive rights to the sale of the property for a certain period of time. For all intents and purposes, an exclusivity agreement is a contract specifying that you will receive a contract at a later date which is the contract for the actual sale. It is generally utilised for buyer confidence though in many situations, the seller may enjoy an upside from such agreements as well. There are various pros and cons to having them but you should to check with your solicitor but beware that it may end up costing you extra in conveyancing fees. In light of these reasons these contracts are unusual when it comes to conveyancing in East Dulwich.
When it comes to lenders such as Leeds Building Society, do East Dulwich solicitors incur a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I am buying a property in East Dulwich. A rare aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Bank of Ireland your lawyer must check the conveyancing instructions contained in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Bank of Ireland where a lease does not comply with these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to East Dulwich.
I am expecting a DIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any East Dulwich solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint East Dulwich solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I am buying a new build flat in East Dulwich. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in East Dulwich
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in East Dulwich I like with a park and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in East Dulwich for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
My company is planning to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering fixed costs for non-domestic conveyancing in East Dulwich for under £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in East Dulwich, including the sale and purchase of businesses as well as simply property. If you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the fees these will vary based on the structure and nuances of the proposed transaction. Please provide us with your contact information or call us so that we can furnish you with a fixed commercial conveyancing calculation.
We are contemplating appointing a web based conveyancer as opposed to a East Dulwich conveyancing practice. Any advice?
Advantages do exist in being able to attend a local East Dulwich conveyancing solicitor for example
- signing papers on short notice
- sometimes being able to speak to someone face-to-face can make a huge difference, particularly for non-standard house moves
- the ability to raise concerns if matters are not going as expected
When comparing fees, look carefully for hidden extras. The majority decent East Dulwich high street solicitors give an all-inclusive price. Many online companies appear to offer cheap fees, but have hidden 'extras' in the small print.