We have rather pushy vendors who has recommended a lock out contract with a deposit 10k. Are such agreements sensible?
There are a couple of main drawbacks with entering into any lock out contract (sometimes known as a shut-out contract) is that it can distract from moving forward with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it could turn out to be a hindrance. It is not promoted amongst Polegate conveyancing practitioners for this reason. The other main issue is the extent of the remedies available - an aggrieved buyer is not likely to be issued with an injunctive ruling by a court to prohibit the vendor disposing of the property to an alternative purchaser, so the only remedy available under the agreement will be the recovery of wasted charges and, in restricted situations, the additional payment of damages.
Having sold my house in Polegate last March but the buyer keeps texting me to say her solicitor needs to hear from myconveyancer. What should have happened now that I have sold?
Following your disposal your conveyancer is committed to deliver the transfer deeds and all of the paperwork to the purchaser's conveyancer. Where appropriate, your solicitor must also confirm that the mortgage has been redeemed to the buyers solicitors. There are no post completion formalities specific conveyancing in Polegate.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would much rather use a Polegate based conveyancing firm?
You should check but the the likelihood is that allocate you one of their panel conveyancers should you want the "fee-free" offer. Contact the mortgage company and explore if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Polegate.
My friend advised me that if I am purchasing in Polegate I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Polegate conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Polegate around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Polegate Education with maps and statistics, Local Amenities and other useful information regarding Polegate.
I am buying my first flat in Polegate with the aid of help to buy. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about the side-deal as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Having checked my lease I have discovered that there are only 68 years remaining on my lease in Polegate. I need to extend my lease but my landlord is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. For most situations a specialist should be useful to conduct investigations and prepare an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Polegate.
I own a 1st floor flat in Polegate, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Polegate with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2095
With 70 years left to run the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.