We have very assertive vendors who has insisted on a lock out contract with a down payment of 5k. Is it wise to enter into such agreements?
Lock out agreements are agreements between a property vendor and prospective acquirer giving the buyer exclusive rights to the sale of the property within a prescribed time frame. Essentially, a lock out is a document stating that you should have a contract at a later date which is the contract for the actual sale. It is generally utilised for buyer protection though in many situations, the seller may enjoy an upside from such agreements as well. There are numerous positives and negatives to having an agreement but you should to check with your conveyancer but beware that it may result in incurring more in conveyancing charges. In light of this these agreements are avoided when it comes to conveyancing in Wheatley.
I am helping my niece sell her house in Wheatley. Will the conveyancing solicitor arrange the energy performance certificate or do I organise this?
After the demise of Home Packs, EPC’s was left as a mandatory element of selling a house. An EPC needs to be commissioned in advance of the property being marketed. This is not something that law firms ordinarily arrange. If you are instructing a Wheatley conveyancing lawyer they may be able to arrange energy performance certificates given their contacts with long established local providers
A colleague pointed out to me me that in buying a property in Wheatley there could be various restrictions preventing external changes to a property. Is this right?
There are anumerous of properties in Wheatley which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Wheatley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I buying a 3 bedroom semi in Wheatley. Our aim is to carry out an extension to the side at the property.Will the conveyancing process include investigations to ascertain if these alterations are allowed?
Your solicitor should check the deeds as conveyancing in Wheatley will on occasion reveal restrictions in the title deeds which restrict categories of works or need the consent of a 3rd party. Certain additions call for local authority planning consent and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
What can a local search tell me regarding the property my wife and I buying in Wheatley?
Wheatley conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search is essential in every Wheatley conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search should 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 renovated Georgian house in Wheatley. Conveyancing practitioner acted for me and Alliance & Leicester . I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wheatley and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing solicitor who conducted the conveyancing.
Just had an offer accepted on a new build flat in Wheatley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Wheatley
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Wheatley I like with a park and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Wheatley suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.