The vendors of the house we are hoping to buy have instructed a conveyancing firm in Farnham Common who has insisted on a preliminary agreement with a payment of 5k. Are such agreements sensible?
Exclusivity agreements are contracts between a property owner and purchaser giving the buyer a ‘clear field’ to purchase the property within a prescribed time frame. Essentially, an exclusivity is a document specifying that you should 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 proprietor may enjoy an upside from such agreements as well. There are numerous pros and cons to having an agreement but you should to check with your conveyancer but note that it may result in costing you more in conveyancing fees. For this these agreements are rare in relation to conveyancing in Farnham Common.
It is 10 years ago since I bought my house in Farnham Common. Conveyancing solicitors have just been retained on the sale but I am unable to locate my title deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be with your lender or they could be in the possession of the lawyers who oversaw your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Farnham Common involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
A relative advised me that in purchasing a property in Farnham Common there could be a number of restrictions preventing external changes to a property. Is this right?
There are anumerous of properties in Farnham Common which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Farnham Common should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Farnham Common. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Aldermore be concerned?
Given that your lender is Aldermore your lawyer must comply with the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Aldermore where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties nationwide and is not limited to Farnham Common.
I am currently in the process of buying my council flat in Farnham Common. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
I require fast conveyancing in Farnham Common as I am under pressure to exchange contracts inside one month. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are not taking a home loan you are at free not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Farnham Common the following are examples of issues that can appear and adversely impact future mortgageability: Enforcement Notices, Overdue Fees, Overdue Grants, Road Schemes,...
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Farnham Common I like with amenity areas and station in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Farnham Common for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan that many years may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My husband and I are a fortnight into a leasehold purchase having been directed to solicitors by the local agent to perform conveyancing in Farnham Common. I am not happy. Could you you assist me in finding new lawyers?
They would need to be very bad to suggest replacing them. Has the mortgage been issued? In the event that it has you need to make them aware of the replacement conveyancer and have the offer are issued to the new lawyers. The solicitor ideally should be on the mortgage company approved list to avoid supplemental fees and frustration. That should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a bank approved lawyer for your conveyancing in Farnham Common