We have very assertive sellers who has insisted on a preliminary contract with a non-refundable deposit 10k. Are such agreements sensible?
There are a couple of main concerns with signing a lock out contract (also known as an exclusivity agreement) is that it takes away the focus from making progress with the conveyancing work, so unless it requires little or no negotiation then it may transpire to be a cause of frustration and delay. It is not promoted amongst Miles Platting conveyancing practitioners as a result. A further issue is the extent of the remedies available - a jilted purchaser is very unlikely to be granted an injunctive ruling by a court to prohibit the vendor completing the sale to another buyer, so the only remedy open via the agreement will be the recovery of abortive charges and, in rare circumstances, the extra payment of penalties.
As a novice what is the most important number one tip you can impart about purchase conveyancing in Miles Platting?
Not many law firms or advisers will tell you this but conveyancing in Miles Platting or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists lots of room for friction between you and other parties involved in the ownership transfer. For example, the vendor, estate agent and on occasion a bank. Appointing a law firm for your conveyancing in Miles Platting should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to protect your legal interests and to keep you safe.
We are witnessing a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. We recommend that you must always trust your lawyer above all other parties when it comes to the legal transfer of property.
It has been 3 months since my purchase conveyancing in Miles Platting completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 residence 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 am looking for a flat up to £305k and identified one near me in Miles Platting I like with open areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Miles Platting in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Miles Platting and how can your lawyers assist?
The particular law that you refer to provides protection to commercial leaseholders, giving them the legal entitlement to make a request to court for a renewal lease and continue in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Miles Platting
I am on look out for some leasehold conveyancing in Miles Platting. Before diving in I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Miles Platting - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Miles Platting - A selection of Queries Prior to Purchasing
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The answer will be important as a) areas can cause problems in the block as the communal areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will wish to know about it Best to be warned whether a new roof is being installed or some other major work is due shortly to be shared by the leaseholders and may well dramatically impact the level of the maintenance charges or result in a specific payment. If a Miles Platting lease has fewer than 80 years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. For most Miles Plattinglease extensions you will need to own the property for a couple of years before you are legally able to exercise a lease extension.