We have very brash vendors who has suggested a lock out contract with a deposit of 5k. Are such agreements sensible?
Exclusivity contracts are contracts between a property vendor and purchaser giving the buyer exclusive rights to the sale of the property within an agreed time frame. Essentially, a lock out agreement is a contract specifying that you should receive a contract at a later date being the contract for the actual sale. It is generally used for buyer protection though in some cases, the owner may stand to benefit from such agreements as well. There are many pros and cons to using an agreement but you need to check with your solicitor but beware that it may result in costing you extra in conveyancing fees. In light of these reasons these agreements are avoided in relation to conveyancing in Treforest.
Is there a search tool that I can utilise to discover of the solicitor conducting my conveyancing in Treforest is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Barclays thus spending £175.00 in another set of conveyancing costs.
You should make use of the find a lender approved solicitor tool on this web page. Please choose the mortgage company and type ‘Treforest’ or your preferred area and you will be presented with a number of lawyer offices in Treforest or nearest you.
What can a local search reveal about the property I am purchasing in Treforest?
Treforest conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Searchflow The local search plays an important role in most Treforest conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I own a semi-detached Georgian house in Treforest. Conveyancing practitioner represented me and Godiva Mortgages Ltd. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
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 Treforest 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 check the position with the conveyancing practitioner who conducted the conveyancing.
I am purchasing a new build house in Treforest with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not disclose to my conveyancer about the side-deal as it could impact my mortgage with Godiva Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I am looking for a flat up to £305k and identified one near me in Treforest I like with amenity areas and transport links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Treforest suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months 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 with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.