The owners have rather brash vendors who has recommended a preliminary contract with a deposit 6,000. Are such agreements sensible?
Lock out contracts are agreements binding a home owner and prospective acquirer giving the buyer exclusive rights to purchase the property for a set period of time. For all intents and purposes, an exclusivity agreement is a contract specifying that you will have a contract at a later date which is the main conveyancing contract. It tends to be used for buyer protection though in many situations, the seller may enjoy an upside from such agreements as well. There are various pros and cons to having an agreement but you should to check with your solicitor but beware that it may end up incurring extra in conveyancing charges. In light of these reasons these contracts are avoided in relation to conveyancing in Dymock.
Are the BSA intent on creating a search tool with a view to to identify practices on the Melton Mowbray Building Society conveyancing panel for example in Dymock?
Lexsure has not been advised of any plans on the part of the BSA to develop such a search facility.
Due to the guidance of my in-laws I had a survey completed on a house in Dymock before appointing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some banks will not grant a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you contact us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dymock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dymock to see if the conveyancing costs will increase in light of this.
Having had my offer accepted I require leasehold conveyancing in Dymock. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and almost all are in Dymock - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a garden flat in Dymock, conveyancing formalities finalised in 1999. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Dymock with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2083
With 63 years remaining on your lease the likely cost is going to span between £16,200 and £18,600 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
How does one remove a deceased person's name from the title register for a property in Dymock?
Where a Dymock property is jointly owned and one of the owners passes away, their name will not immediately be removed from the title deeds. It is not necessary to remove their name as when it comes to a sale you would simply be required to evidence why the joint owner is missing from the conveyance, normally this takes the form of a grant of probate.
With the aim of making things simpler for the sale of the property you may apply to have the deceased party erased from the title entries by submitting an application to the land registry with evidence of the death. There is no charge from the Registry for this service.