The vendors of the home we are purchasing have instructed a conveyancing firm in St John's Wood who has insisted on a exclusivity agreement with a deposit 10k. Are such agreements sensible?
There are two main concerns with signing a lock out contract (occasionally termed a shut-out contract) is that it diverts attention away from moving forward with the conveyancing work, so unless it requires minimal or no negotiation then it could transpire to be unhelpful. It is not strongly advocated amongst St John's Wood conveyancing solicitors for this reason. A supplemental issue is the extent of the remedies available - a jilted purchaser should not expect to be granted an injunction to prevent the vendor selling to another buyer, so the only remedy open via the contract will be the reimbursement of wasted costs and, in limited circumstances, the extra payment of damages.
What does a local search tell me regarding the house I am buying in St John's Wood?
St John's Wood conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search is essential in every St John's Wood conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search should reveal information on, amongst other things, details on planning applications applicable 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 thirteen topic areas.
How does conveyancing in St John's Wood differ for newly converted properties?
Most buyers of new build residence in St John's Wood approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in St John's Wood typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in St John's Wood or who has acted in the same development.
Given that I will soon part with hundreds of thousands of pounds on a two bedroom apartment in St John's Wood I would like to have a conversation with the conveyancer concerning theconveyancing in advance of appointing the firm. Is this something that you can arrange?
Absolutely - we would be delighted to talk to you we do not take any clients on without you liaising with the solicitor who will be doing your conveyancing in St John's Wood.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in St John's Wood should be the amount on the final invoice that you are charged.
Back In 2000, I bought a leasehold house in St John's Wood. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in St John's Wood who previously acted has now retired. What should I do?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a St John's Wood conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
My wife and I have hit a brick wall in negotiating a lease extension in St John's Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a St John's Wood conveyancing firm who can help.
An example of a Lease Extension case for a St John's Wood residence is Garden Flat 195 Goldhurst Terrace in May 2012. The Tribunal held in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease should be £60,855.00. This case affected 1 flat. The unexpired lease term was 60.16 years.