The vendors of the home we are hoping to buy have instructed a conveyancing firm in Oxshott who has insisted on a exclusivity agreement with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
There are two primary concerns with signing a lock out contract (also known as an exclusivity agreement) is that it can distract from moving forward with the conveyancing process, so unless it requires limited or no negotiation then it could turn out to be a hindrance. It is not strongly advocated amongst Oxshott conveyancing practitioners as a result. A supplemental issue is the extent of the remedies available - a jilted buyer should not expect to secure an injunction to bar the seller completing the sale to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of abortive charges and, in limited circumstances, the additional payment of damages.
Do the Building Society Association intend to launch a online directory to list solicitors on the Loughborough BS conveyancing panel for instance in Oxshott?
We are not aware of any intention on the part of the BSA to develop such a search facility.
Me and my brother have a renovated Victorian house in Oxshott. Conveyancing solicitor represented me and Birmingham Midshires. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Oxshott and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who conducted the work.
About to purchase a new build apartment in Oxshott. 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Oxshott
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I decided to have a survey done on a property in Oxshott prior to appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies will not give a mortgage on such a house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Oxshott. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Oxshott to see if the conveyancing costs will increase in light of this.
What advice can you give us when it comes to choosing a Oxshott conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Oxshott conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Oxshott conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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How many lease extensions have they conducted in Oxshott in the last twenty four months? How experienced is the practice with lease extension legislation?
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Oxshott conveyancing firm to assist?
Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to arrive at the premium.
An example of a Lease Extension matter before the tribunal for a Oxshott premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.