The owners have rather brash sellers who has insisted on a preliminary agreement with a down payment 10k. Are such agreements sensible?
Lock out contracts are contracts between a property vendor and purchaser giving the buyer exclusive rights to purchase the premises for a certain period of time. For all intents and purposes, a lock out agreement is a contract specifying that you should have a contract at a later date being the main conveyancing contract. It is generally utilised for buyer protection though in many situations, the owner may enjoy an upside from such agreements as well. There are various positives and negatives to using an agreement but you should to check with your conveyancer but beware that it may end up incurring extra in conveyancing charges. In light of this these contracts are not popular in relation to conveyancing in West Malling.
After researching online forums for an online lawyer in West Malling, many advise that I should look for a CQS kitemarked solicitor. Can you explain what CQS is?
West Malling Conveyancing Quality Scheme solicitors have obtained certification under the Law Society's Scheme (CQS) CQS was established to promote high standards in the in the legal transfer of properties. CQS enables buyers and sellers to recognise solicitor firms who provide a quality residential conveyancing. West Malling is one of the many areas in England and Wales in which CQS are based. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Building Societies Association.
I'm purchasing a new build house in West Malling with a loan from Norwich and Peterborough Building Society. The sellers refused to move on the price so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my solicitor about the deal as it could affect my loan with Norwich and Peterborough Building Society. Should I keep quiet?.
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.
Are there any apps to help search for a West Malling solicitor on the TSB conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the conveyancer.
Feel free to make use of the facility on this page. Please choose the lender and your location and you will see a number of West Malling conveyancing lawyers locally. We have detailed some West Malling conveyancing firms at the bottom of this page and you can ring them to see whether they are on the TSB member panel
I have just started marketing my basement apartment in West Malling. Conveyancing solicitors are to be appointed soon, however I have recently received a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as usual because all ground rent and service payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a split level flat in West Malling, conveyancing was carried out in 2003. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in West Malling with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2081
You have 55 years unexpired the likely cost is going to span between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to 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.
Being a leasehold owner I am on the hook for a maintenance fee for my appartment in West Malling. Due to redundancy and personal issues I fell into arrears with remittance. The management company agreed a settlement schedule but there is still in the region of £2000 outstanding as of today.
I now wish to dispose of the property and I am panicking this will hold me back if I have to pay off the amount due now. Do I have to settle before - is this possible?
Your solicitor will hopefully be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept settlement out of the sale proceeds. Here is an example of why it is sensible to instruct a solicitor in West Malling as they are likely to have an open line of communication with the management company.