The sellers of the home we are looking to purchase have appointed a conveyancing solicitor in Hanworth who has insisted on a lock out agreement with a non-refundable deposit 10k. Is it wise to enter into such agreements?
There are two main drawbacks with signing a lock out agreement (also known as an exclusivity agreement) is that it diverts attention away from moving forward with the conveyancing transaction itself, so unless it requires little or no negotiation then it may turn out to be a cause of frustration and delay. It is not promoted amongst Hanworth conveyancing solicitors as a result. A supplemental concern is the extent of the remedies available - a jilted buyer is extremely unlikely to win an injunction to stop the seller completing the sale to a third party, so the only remedy available under the contract will be the recovery of wasted charges and, in restricted scenarios, the extra payment of damages.
I have been on the look out for a flat up to £195,000 and identified one close by in Hanworth I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. There is not much else in Hanworth suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I am downsizing from my home. My past solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Hanworth if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Hanworth. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
In my capacity as executor for the will of my father I am disposing of a property in Swansea but I am based in Hanworth. My lawyer (approximately 235 kilometers awayhas requested that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Hanworth who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are based in Hanworth
I am tempted by the attractive purchase price for a two maisonettes in Hanworth which have in the region of 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Hanworth. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena.
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Hanworth. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Hanworth conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hanworth property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired term was 82.93 years.