The vendors of the house we are looking to purchase are using a conveyancing firm in Hanslope who has insisted on a lock out contract with a deposit 6,000. Are such arrangements appropriate for Hanslope conveyancing transactions?
Exclusivity contracts are contracts binding a home owner and prospective acquirer granting the buyer exclusive rights to purchase the premises for a limited period of time. For all intents and purposes, a lock out is a document specifying that you will have a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer confidence though in some cases, the seller may stand to benefit from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your solicitor but note that it may result in incurring more in conveyancing charges. For these reasons these contracts are unusual when it comes to conveyancing in Hanslope.
As someone not used to conveyancing in Hanslope what is your top tip you can give me concerning the ownership transfer in Hanslope
Not many law firms shout this from the rooftops but conveyancing in Hanslope or throughout Buckinghamshire is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of opportunity for conflict between you and others involved in the legal transfer of property. For instance, the vendor, selling agent and on occasion your mortgage company. Appointing a lawyer for your conveyancing in Hanslope should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to protect your best interests and to protect you.
There is a distinct ongoing adversarial element to conveyancing- someone must be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your conveyancer above the other players when it comes to the legal assignment of property.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Hanslope is the location of the property. What do you suggest?
Flying freeholds in Hanslope are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hanslope you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hanslope may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am looking into buying my first house which is in Hanslope and I am already nervous. I couldn't find anything specific about Hanslope. Conveyancing will be needed in due course but do you know about the Hanslope area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hanslope. In the meantime here are some basic statistics that we found
I own a leasehold flat in Hanslope. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Hanslope who previously acted has now retired. Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Hanslope conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Hanslope Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
How many years remain on the lease? How much is the maintenance charge and ground rent on the property? Is there a share of the freehold?