We have rather brash sellers who has insisted on a lock out agreement with a down payment of 5k. Is it wise to enter into such agreements?

There are a couple of main drawbacks with entering into any lock out agreement (sometimes known as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing work, so in the absence of it needing little or no negotiation then it could turn out to be a hindrance. It is not strongly advocated amongst Waltham Abbey conveyancing practitioners as a result. A supplemental issue is the extent of the remedies available - a jilted buyer is extremely unlikely to be issued with an injunctive ruling by a court to stop the seller completing the sale to a third party, so the only remedy open via the contract will be the reimbursement of abortive charges and, in limited circumstances, the extra payment of damages.

What is the first thing I need to know concerning purchase conveyancing in Waltham Abbey?

You may not hear this from too many lawyers but conveyancing in Waltham Abbey or throughout Essex is an adversarial experience. Put another way, when it comes to conveyancing there is lots of room for conflict between you and other parties involved in the ownership transfer. For example, the vendor, property agent and even potentially a lender. Selecting a law firm for your conveyancing in Waltham Abbey an important selection as your conveyancer is your adviser, and is the SOLE person in the process whose responsibility is to protect your best interests and to keep you safe.

Every so often a third party with a vested interest will try and persuade you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by claiming that your conveyancer is slow. Or your mortgage broker may try to convince you to do take action that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

Have completed on a a detached house in Waltham Abbey , What is the estimated time for the Land Registry to record my ownership? My Waltham Abbey conveyancing solicitor works at snail pace, so I want to be sure the registration is dealt with.

There is nothing unique when it comes to conveyancing in Waltham Abbey registration formalities. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether there are errors and whether the Land registry need to notify any third persons or bodies. At present approximately 80% of submission are fully addressed within two weeks but some can be subject to longer hold-ups. Registration occurs after the purchaser is living at the property thus 'speed' is not always an essential issue but where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.

Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Waltham Abbey I like with amenity areas and transport links in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Waltham Abbey for this price, so just wondered if I would be making a grave error acquiring a short lease?

If you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.

I have been informed by many family members that it may take six to eight weeks for Waltham Abbey conveyancing to complete.This was a month ago. The paperwork was only forwarded from the vendors property lawyer a few days ago so does the clock start running now?

You should not rely on moving on a set date until exchange of contracts occurs. Regardless of the promises the people you are purchasing from or selling to make, or your estate agent makes don't count on them. More stress is caused to clients trying to move home by false assurances than any other factor when it comes to conveyancing in Waltham Abbey.