The owners have very pushy vendors who has recommended a preliminary agreement with a down payment 10k. Are such agreements sensible?
This kind of arrangement isn't common in Hither Green, conveyancers will often encourage clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no assurance that just because the proprietor has entered into a lock out agreement they will sell to you. They may breach the agreement if they receive a large enough incentive to do so because a wronged purchaser with the benefit of a lockoutcontract will still be duty bound to establish consequential losses from the breach and these may not amount to the extra amount that your vendor may obtain by breaking the agreement, no matter how morally condemnable the behaviour is.
It is is a decade since I acquired my house in Hither Green. Conveyancing solicitors have recently been instructed on the sale but I can't locate my title deeds. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be retained by your mortgage company or they may be in the possession of the solicitor who oversaw your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. Nearly all conveyancing in Hither Green relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
Are there restrictive covenants that are commonly picked up during conveyancing in Hither Green?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Hither Green. 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…’
The estate agent has sent us the confirmation of our purchase of a new build apartment in Hither Green. Conveyancing is a frightening process 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 legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hither Green
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants.
My fiance and I may need to rent out our Hither Green 1st floor flat temporarily due to a career opportunity. We instructed a Hither Green conveyancing practice in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Hither Green do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
We have reached the end of our tether in trying to purchase the freehold in Hither Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Hither Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Hither Green flat is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case affected 3 flats. The remaining number of years on the lease was 69.05 years.
We are midway through purchasing a house in Hither Green. Conveyancing solicitor has told us the property is "Leasehold". Does this adversely affect our home loan valuation?
Hither Green conveyancing does not normally involve leasehold houses. The key factor here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's virtually freehold, so it’s unlikely to impact the value too much.
At the other extreme, if it's, say, fifty five years it is bound to have a adverse effect on the saleability, and most likely wouldn't be acceptable to the bank. The length of lease and ground rent will be specified in the lease which should be made available to your property lawyer.