The sellers of the house we are looking to purchase are using a conveyancing firm in Bracebridge Heath who has suggested a exclusivity contract with a down payment two thousand pounds. Is it wise to enter into such agreements?
There are a couple of main concerns with signing a lock out contract (occasionally known as an exclusivity agreement) is that it takes away the focus from progressing with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it may transpire to be unhelpful. It is not strongly advocated by Bracebridge Heath conveyancing practitioners for this reason. The other main issue is the extent of the remedies available - an aggrieved buyer is extremely unlikely to be granted an injunctive ruling by a court to prevent the owner completing the sale to another buyer, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in restricted scenarios, the extra payment of damages.
A colleague advised me that in purchasing a property in Bracebridge Heath there may be various restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Bracebridge Heath which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Bracebridge Heath should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the single recipient of my late mum's estate and I have everything in my name now, including the my former home in Bracebridge Heath. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I do know about the CML six month 'rule', meaning my property ownership will be considered the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Some lenders would take a practical view as this obligation primarily exists to capture the purchase and immediately sell or the quick reselling of property.
After what seems like an age I have had an offer on an apartment in Bracebridge Heath agreed to, but there is a chain. The owners have put an offer on on an apartment, but it’s not yet agreed to, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Bracebridge Heath. What should be my next step? When should I get the mortgage application with Nottingham started?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then valuation, Bracebridge Heath conveyancing search fees, etc). The first course of action is to check that your property lawyer is on the Nottingham conveyancing panel. Concerning the subsequent stages this very much dictated by the uniqueness of your case, motivation for the property and on the state of the market. In a hot market many buyers will apply for a home loan with Nottingham and arrange for the valuation and only if it was satisfactory would they request their conveyancer to proceed with the conveyancing in Bracebridge Heath.
About to purchase a new build flat in Bracebridge Heath. 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 legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Bracebridge Heath
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. Please supply a car parking plan.
Due to the input of my in-laws I had a survey completed on a house in Bracebridge Heath ahead of retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may not give a loan on this type of premises.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bracebridge Heath. Conveyancing will be smoother if you use a solicitor in Bracebridge Heath especially if they regularly deal with such properties in Bracebridge Heath.
I am selling my home. My past lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Bracebridge Heath if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Bracebridge Heath. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.