The vendors of the house we are looking to purchase have instructed a conveyancing solicitor in Laindon who has suggested a exclusivity contract with a payment two thousand pounds. Are such agreements sensible?
There are two primary downsides with entering into any lock out contract (sometimes referred to as an exclusivity agreement) is that it diverts attention away from progressing with the conveyancing process, so unless it requires minimal or no negotiation then it could transpire to be unhelpful. It is not particularly popular amongst Laindon conveyancing solicitors for this reason. The other main issue is the extent of the remedies available - an aggrieved buyer is extremely unlikely to be issued with injunctive relief to bar the vendor selling to another buyer, so the only remedy open via the agreement will be the recovery of abortive costs and, in restricted circumstances, the extra payment of damages.
Having sold my house in Laindon last January but our buyer keeps texting every few hours complaining that his lawyer is waiting to hear from mine. What should my lawyer have done following completion?
Following your house sale your solicitor should send the transfer deeds and all additional paperwork to the buyer’s lawyers. Where relevant, your lawyer should also confirm that the home loan has been repaid to the buyers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Laindon.
It has been five months following my purchase conveyancing in Laindon completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 opted to have a survey completed on a property in Laindon ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies tend not issue a loan on such a house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Laindon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Laindon to see if the conveyancing will be more expensive.
I need to find a conveyancing solicitor for leasehold conveyancing in Laindon. I have land on a web site which looks to be the ideal solution If there is a chance to get all this stuff completed via email that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any advice for leasehold conveyancing in Laindon with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Laindon can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the buyers’ lawyers. You believe that you know the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Organising a new share certificate is often a lengthy process and slows down many a Laindon home move. If a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. A minority of Laindon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved.
Laindon Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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What prohibitions are contained in the Laindon Lease? How much is the ground rent and service charge? Please inform me if there are any major works in the planning that will likely increase the service costs?