The vendors of the home we are purchasing have instructed a conveyancing firm in Mottingham who has recommended a exclusivity agreement with a down payment 10k. Are such agreements sensible?
Lock out contracts are agreements between a property seller and purchaser giving the buyer the sole right to purchase the premises within an agreed time frame. Essentially, an exclusivity is a document stating that you should receive a contract at a later date which is the contract for the actual sale. It tends to be used for buyer assurance though in some cases, the owner may stand to benefit from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your lawyer but beware that it may end up incurring extra in conveyancing charges. In light of this these contracts are not popular in relation to conveyancing in Mottingham.
We are planning on selling our property in Mottingham and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A high street Mottingham conveyancer would know this is not the case. It does beg the question why the buyers are using a web based conveyancing practice rather than a conveyancing solicitor in Mottingham. Having lived in Mottingham for three years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You should check with 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 life insurance to cover that same ailment)
How does conveyancing in Mottingham differ for newly converted properties?
Most buyers of new build residence in Mottingham approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Mottingham usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Mottingham or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Mottingham I like with amenity areas and station nearby, however it's only got 61 remaining years left on the lease. There is not much else in Mottingham for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I'm refinancing my primary house to a BTL loan with Britannia and I will use the ballance of the raised equity towards further property. The neighborhood we are interested in is Mottingham. Will your lawyers be able to act for both sets of lenders and link together the two deals?
Do use our comparison tool on this page to be sure that the lawyers are on the relevant lender panels. Having checked that they are the solicitor should be able to tie up the two conveyancing matters but you should have a chat with you solicitor and communicate your expectations and requirements.
In my capacity as executor for the estate of my grandmother I am disposing of a residence in Monmouth but I am based in Mottingham. My conveyancer (based 300 kilometers awayrequires that I sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Mottingham to witness this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are located in Mottingham