The sellers of the house we are looking to purchase have appointed a conveyancing firm in Fleet who has recommended a lock out agreement with a deposit 10k. Are such contracts appropriate for Fleet conveyancing transactions?
There are a couple of main downsides with signing a lock out contract (sometimes known as an exclusivity agreement) is that it can distract from making progress with the conveyancing transaction itself, so in the absence of it needing limited or no negotiation then it may turn out to be a cause of frustration and delay. It is not particularly popular amongst Fleet conveyancing lawyers as a result. A supplemental concern is the extent of the remedies available - a jilted buyer is not likely to be granted an injunctive ruling by a court to prohibit the owner selling to another buyer, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in limited scenarios, the extra payment of penalties.
3 months have gone by since my purchase conveyancing in Fleet concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Fleet is where the house is located. Can you shed any light on this issue?
Flying freeholds in Fleet are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fleet you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fleet may determine 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 residence.
How simple is it to transfer to a new conveyancer as I need to find one who is on the Lloyds TSB Bank conveyancing list. I was using a local conveyancing solicitor in Fleet five minutes from me but he is not accepted by Lloyds TSB Bank
It would be our pleasure to assist you select a conveyancing solicitor in Fleet on the Lloyds TSB Bank panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Fleet. Using search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Fleet.
I’m about to sell my basement flat in Fleet. Conveyancing solicitors are to be appointed soon, however I have recently received a yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as you normally would given that all rents and service invoices will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a garden flat in Fleet, conveyancing was carried out 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Fleet with a long lease are worth £202,000. The ground rent is £60 per annum. The lease ends on 21st October 2083
With only 57 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
My conveyancing in Fleet is set to complete on Friday, yet the person I am buying off has asked to vacate the next day at midday. Can I agree to this?
You can't complete on a Saturday due to the bank systems aren't working.