We have very brash sellers who has suggested a lock out contract with a payment of 5k. Are such agreements sensible?
There are two primary downsides with executing a lock out agreement (sometimes termed an exclusivity agreement) is that it diverts attention away from progressing with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it could transpire to be a hindrance. It is not strongly advocated amongst Ollerton conveyancing solicitors as a result. The other main concern is the extent of the remedies available - an aggrieved buyer should not expect to win injunctive relief to stop the owner selling to another buyer, so the only remedy available under the agreement will be the recovery of abortive costs and, in restricted circumstances, the additional payment of penalties.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial property in Ollerton?
Many commercial conveyancing solicitors in Ollerton will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Ollerton. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Ollerton.
For each commercial conveyancing transaction in Ollerton it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Ollerton commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Ollerton.
I purchased a renovated Edwardian property in Ollerton. Conveyancing solicitor acted for me and Nottingham Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ollerton and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who conducted the conveyancing.
Just had an offer accepted on a new build flat in Ollerton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Ollerton
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
As co-executor for the estate of my uncle I am disposing of a residence in Monmouth but reside in Ollerton. My lawyer (approximately 260 kilometers from mehas requested that I execute a statutory declaration before completion. Can you recommend a conveyancing practitioner in Ollerton who can witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Ollerton
I purchased a property in Ollerton last 1/9/2025 and to date it is still not registered with the Land Registry. It was part of a development site and my conveyancing practitioner told me that it may take over a year to complete the registration formalities. I have contacted the Land Registry directly and they say that the initial application was cancelled due to failure to reply to requisitions. Should I be concerned?
Call your property lawyer - Where you are unsatisfied with the responses, look up their firm’s complaints process and escalate your problem to a Complaints Manager. Registrations for Ollerton conveyancing are not known to be particularly slow.