The owners of the property we are hoping to buy have appointed a conveyancing firm in Old Woking who has insisted on a lock out contract with a down payment 6,000. Are such agreements sensible?
This type of arrangement is not the norm in Old Woking, conveyancers are not keen on them as they detract from focusing on the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor is left exposed. Furthermore, there is no certainty that just because the vendor has executed an exclusivity agreement they will complete the sale with you. They may be in contravention of the agreement if they are offered a big enough offer to do so because an aggrieved party with the benefit of a exclusivity agreement will still be obliged establish consequential losses from the breach and these may not compare to the extra amount that your vendor may gain by breaking the agreement, however morally reprehensible that may be.
It has been four months following my purchase conveyancing in Old Woking concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 property 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.
How does conveyancing in Old Woking differ for newly converted properties?
Most buyers of new build residence in Old Woking approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Old Woking usually purchase the land, 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 conveyancers 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 Old Woking or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and found one near me in Old Woking I like with a park and railway links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Old Woking for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years will be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I'm converting the mortgage on my primary house to a BTL mortgage with Santander and intend to use the remaining equity as a down payment on a second house. The location we are interested in is Old Woking. Will your lawyers be able to act for both sets of banks and tie in the conveyances?
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 lawyer should be able to simultaneously deal with the two deals but you should talk with you solicitor and communicate your expectations and requirements.
I need to retain a conveyancing solicitor for remortgage conveyancing in Old Woking. I have land on a site which appears to be the ideal answer If it is possible to get all formalities done via phone that would be ideal. Do I need to be concerned? 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?