The owners of the property we are purchasing hired a conveyancing firm in Willenhall who has insisted on a lock out contract with a deposit 6,000. Are such agreements sensible?

Lock out agreements are contracts binding a home vendor and prospective buyer granting the buyer a ‘clear field’ to purchase the property for a certain period of time. Essentially, a lock out agreement is a contract specifying that you should have a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer assurance though in many situations, the proprietor may stand to benefit from such agreements as well. There are many positives and negatives to using them but you should to check with your lawyer but beware that it may end up incurring extra in conveyancing fees. For this these contracts are not popular when it comes to conveyancing in Willenhall.

I just acquired a flat at auction in Willenhall. Conveyancing is necessary. What happens now?

Given that you have now legally committed yourself to purchase you should appoint a conveyancing lawyer soon as you are facing a pending a drop dead date to complete the property. Every auction property should have a corresponding legal pack. This will include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold property the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You need to give this to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.

Is it the case that all Willenhall solicitor firms on the Yorkshire BS conveyancing panel are overseen by the SRA?

As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be regulated by the SRA. Some banks do permit licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.

I am purchasing a property in Willenhall. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?

Given that your lender is Skipton your lawyer must check the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Skipton. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to Skipton where a lease does not satisfy these conditions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Willenhall.

Should my solicitor be making enquiries about flooding as part of the conveyancing in Willenhall.

The risk of flooding is if increasing concern for lawyers dealing with homes in Willenhall. Some people will buy a house in Willenhall, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.

Lawyers are not qualified to impart advice on flood risk, but there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Willenhall. The standard completed inquiry forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to discover whether the property has suffered from flooding. If the premises has been flooded in past which is not disclosed by the seller, then a buyer may commence a claim for damages as a result of such an incorrect response. The buyer’s solicitors should also carry out an environmental report. This will reveal if there is any known flood risk. If so, further inquiries will need to be conducted.

I am looking into buying my first house which is in Willenhall and I am already nervous. I couldn't find anything specific about Willenhall. Conveyancing will be needed in due course but do you know about the Willenhall area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Willenhall. In the meantime here are some basic statistics that we found

My wife and I purchased a leasehold house in Willenhall. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Willenhall who previously acted has now retired. Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Willenhall conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am the registered owner of a basement flat in Willenhall, conveyancing was carried out August 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Willenhall with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2088

With just 64 years unexpired the likely cost is going to range between £14,300 and £16,400 plus legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.