My best friend’s dad is a property lawyer. I am hopeful that I will receive friends and family fee for conveyancing, but if not, what level of costs should I be paying for conveyancing in Street?
It’s wise to seek two or three conveyancing quotes. Do use our comparison tool on this page. You will notice that prices seem to contrast greatly but the service one can expect are distinct between law firms as is true with most professions.
The owners have very brash vendors who has recommended a exclusivity agreement with a deposit of 5k. Is it wise to enter into such agreements?
Lock out agreements are contracts between a home seller and prospective acquirer granting the buyer the sole right to purchase the property within a prescribed time frame. For all intents and purposes, an exclusivity is a document specifying that you will have a contract at a later date being the main conveyancing contract. It tends to be utilised for buyer assurance though in some cases, the seller may stand to benefit from such agreements as well. There are many pros and cons to using an agreement but you should to check with your conveyancer but note that it may end up incurring extra in conveyancing charges. In light of these reasons these agreements are rare when it comes to conveyancing in Street.
Me and my brother have a 4 bedroom Edwardian house in Street. Conveyancing solicitor acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Accord Mortgages Ltd to clarify?
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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Street 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 buyers. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
I'm buying my first flat in Street with a loan from Britannia. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not to tell my lawyer about this side-deal as it would affect my loan with the lender. Is this normal?.
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.
We're first time buyers - had an offer accepted, but the agent informed us that the seller will only proceed if we appoint the agent's chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer with experience of conveyancing in Street
We suspect that the seller is not behind this request. If they require ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Speak to the vendors direct and explain that (a)you are motivated purchasers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Street conveyancing lawyers - rather thanthose that will give the negotiator at the agency a commission or hit his conveyancing thresholds demanded by head office.
Last September I purchased a leasehold house in Street. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 1st floor flat in Street, conveyancing was carried out July 2007. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Street with over 90 years remaining are worth £265,000. The ground rent is £50 yearly. The lease runs out on 21st October 2101
With just 75 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.