We have very pushy sellers who has recommended a lock out contract with a down payment 10k. Are such agreements sensible?
This form of preliminary agreement isn't common in Southend, conveyancers are not keen on them as they detract from focusing on the primary focus, namely conveyancing and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no certainty that just because the seller has entered into an exclusivity agreement they will complete the sale with you. They may be in contravention of the contract if they are offered sufficient incentive to do so because a wronged buyer with the benefit of a lockoutcontract will still be obliged show losses as a consequence of the breach and this may not amount to the extra amount that the owner may gain by breaking the contract, no matter how morally unworthy the behaviour is.
I own a freehold premises in Southend but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Southend and has limited impact for conveyancing in Southend but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
We are buying a apartment in Southend. I might seem paranoid but how we can trust a lawyer? At some point we have to deposit our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is your number one tip for finding a conveyancing solicitor in Southend
It would be unwise to be swayed by the lowest Southend conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
UBS have agreed my mortgage in principle, my bid on a flat in Southend has been accepted, what are the next steps?
The estate agent will need to know who your solicitors are (make sure the lawyers are on the lender’s panel). Call up UBS or the financial adviser and complete any appropriate forms. UBS will sellect a valuer who will get in touch with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. UBS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Southend.
Just bought a detached house in Southend , What is the estimated time for the Land Registry to register my ownership? My Southend conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are dealt with.
There is nothing unique when it comes to conveyancing in Southend registration formalities. As opposed to being determined by geographic area, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry communicate with any third parties. At present in the region of three quarters of submission are fully addressed in less than three weeks but some can be subject to longer hold-ups. Historically registration is effected after the purchaser has moved in to the property thus 'speed' is not always top priority but where there is a degree of urgency associated with the registration then you or your solicitor must contact the land registry and explain the circumstances.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Southend I like with a park and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Southend suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I need to retain a conveyancing solicitor for remortgage conveyancing in Southend. I've stumble across a site which seems to have the ideal solution If there is a chance to get all formalities done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
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?