We have very pushy vendors who has recommended a exclusivity contract with a payment 6,000. Are such agreements sensible?
This type of agreement isn't frequently used in Holborn, conveyancers will often sway clients away from them as they detract from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the vendor has executed a lock out contract they will complete the sale with you. They may breach the agreement if they are offered sufficient offer to do so because an aggrieved purchaser with the benefit of a exclusivity agreement will still be legally obliged to establish consequential losses from the breach and this may not compare to the financial upside that the owner may gain by breaching the contract, no matter how morally shameful it undoubtedly is.
I am downsizing from our home in Holborn and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Holborn conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a web based conveyancing outfit rather than a conveyancing solicitor in Holborn. Having lived in Holborn for many years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build flat in Holborn. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Holborn
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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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Holborn prior to instructing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some mortgage companies will not grant a loan on this type of house.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Holborn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Holborn to see if the conveyancing costs will increase in light of this.
If all goes to plan we aim to complete the sale of our £300,000 flat in Holborn next week. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Holborn?
For most leasehold sales in Holborn conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering conveyancing due diligence enquiries
Where consent is required before sale in Holborn
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to purchase the freehold in Holborn. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price payable.
An example of a Lease Extension decision for a Holborn premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired term was 66.8 years.
Would local authority permission be required to split a house into a couple of appartments in Holborn? This has occurred to a house next door to a relative in Holborn and was not aware of the conversion until it was finished.
Planning consent is required for converting a single house in Holborn into apartments but possibly not for converting back to single dwelling-house so, simply put, yes,a it is needed.