The owners have very pushy sellers who has insisted on a exclusivity contract with a non-refundable deposit 10k. Is it wise to enter into such agreements?
Exclusivity contracts are agreements between a home seller and prospective buyer giving the buyer a ‘clear field’ to purchase the property within a prescribed time frame. Essentially, an exclusivity agreement is a contract stating that you will have a contract at a later time which is the contract for the actual sale. It tends to be used for buyer confidence though in some cases, the proprietor may enjoy an upside from such agreements as well. There are numerous pros and cons to using an agreement but you should to check with your lawyer but beware that it may end up incurring more in conveyancing fees. In light of these reasons these contracts are rare in relation to conveyancing in West Hampstead.
It is 10 years ago since I purchased my property in West Hampstead. Conveyancing solicitors have recently been instructed on the sale but I can't track down the title documents. Is this a major issue?
You need not be too concerned. Firstly the deeds may be kept by your lender or they could be archived with the lawyers who oversaw the purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in West Hampstead involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
I need some quick conveyancing in West Hampstead as I have pressure to exchange contracts in less than 2 weeks. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at free not to have searches carried out although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in West Hampstead the following are instances of issues that can arise and adversely affect future saleability: Enforcement Notices, Outstanding Fees, Overdue Grants, Unadopted Roads,...
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. West Hampstead is the location of the property. Can you shed any light on this issue?
Flying freeholds in West Hampstead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in West Hampstead you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Hampstead may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in West Hampstead. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in West Hampstead are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in West Hampstead so you should seriously consider looking for a West Hampstead conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.
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 West Hampstead conveyancing firm to assist?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to arrive at the price.
An example of a Lease Extension decision for a West Hampstead flat is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.
I need to swap lawyers as my West Hampstead lawyer is not on the bank's panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet appointed a conveyancer to commence the conveyancing and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in West Hampstead that you're considering.