The sellers of the home we are looking to purchase have instructed a conveyancing firm in Higham Ferrers who has insisted on a preliminary agreement with a non-refundable deposit of 5k. Are such agreements sensible?
There are a couple of main concerns with signing a lock out contract (occasionally referred to as a no-shop agreement) is that it diverts attention away from making progress with the conveyancing work, so in the absence of it needing little or no negotiation then it could transpire to be a cause of frustration and delay. It is not particularly popular amongst Higham Ferrers conveyancing practitioners for this reason. A further issue is the extent of the remedies available - a jilted purchaser is not likely to secure an injunctive ruling by a court to bar the vendor selling to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in rare scenarios, the extra payment of damages.
Why do I have to pay up front for conveyancing in Higham Ferrers?
If you are buying a property in Higham Ferrers your solicitor will ask you place them with monies to cover the search fees. Generally this is needed to cover the fees of the Local Authority Search. If any deposit is payable against the sale price then this should be asked for immediately before contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Higham Ferrers is where the house is located. Can you offer any opinion?
Flying freeholds in Higham Ferrers are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Higham Ferrers you must be sure that your lawyer goes 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 Higham Ferrers may ascertain 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.
Taking into account that I am about to spend over three hundred thousand on a garden flat in Higham Ferrers I wish to talk to a solicitor regarding thetransaction before giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your property ownership legalities in Higham Ferrers.There is no ‘factory style conveyancing’ - each client is an important individual, not a case number. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Higham Ferrers should be the figure that you end up paying.
If all goes to plan we aim to complete the sale of our £450,000 maisonette in Higham Ferrers next week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Higham Ferrers?
For most leasehold sales in Higham Ferrers conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-exchange enquiries
Where consent is required before sale in Higham Ferrers
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a 1 bedroom flat in Higham Ferrers, conveyancing formalities finalised April 2011. How much will my lease extension cost? Comparable flats in Higham Ferrers with an extended lease are worth £195,000. The ground rent is £45 per annum. The lease expires on 21st October 2090
With just 64 years left to run we estimate the price of your lease extension to range between £14,300 and £16,400 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Should one as executor remove a deceased person's name from the title register for a house in Higham Ferrers?
Where a Higham Ferrers property is jointly owned and one of the proprietors dies, their name will not immediately be removed from the title deeds. It is not necessary to remove their name as when it comes to a disposal your lawyer would just be asked to supply proof as to the reason the other proprietor is missing from the conveyance, such as a grant of probate.
With a view to making the sale conveyancing smoother in the future you can arrange to have the deceased name removed from the title by submitting an application to the land registry with evidence of the death. There is no land registry fee payable.