The sellers of the property we are hoping to buy have appointed a conveyancing practitioner in Long Itchington who has insisted on a lock out agreement with a payment two thousand pounds. Are such agreements sensible?

Lock out agreements are agreements between a home owner and prospective buyer giving the buyer the sole right to the sale of the premises for a limited period of time. Essentially, an exclusivity is a document stating that you will receive a contract at a later date being the main conveyancing contract. It is generally used for buyer protection though in some cases, the seller may enjoy an upside from such agreements as well. There are numerous pros and cons to using an agreement but you should to check with your conveyancer but beware that it may end up incurring extra in conveyancing fees. In light of this these agreements are not popular when it comes to conveyancing in Long Itchington.

I require quick conveyancing in Long Itchington as I am under an ultimatum to complete in less than 4 weeks. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save money and time?

As you are not taking a home loan you are at liberty not to do searches although no solicitor would advise that you don't. With plenty of history conveyancing in Long Itchington the following are examples of issues that can appear and therefore impact the marketability of the property: Enforcement Notices, Overdue Fees, Outstanding Grants, Railway Schemes,...

Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Long Itchington I like with open areas and transport links nearby, the downside is that it only has 61 years on the lease. There is not much else in Long Itchington for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.

What are your top tips when it comes to finding a Long Itchington conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Long Itchington conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non Long Itchington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:

Can they put you in touch with clients in Long Itchington who can give a testimonial? If they are not ALEP accredited then why not?

Leasehold Conveyancing in Long Itchington - A selection of Queries Prior to buying

What is the service charge and ground rent on the apartment? This information is helpful as a) areas could cause problems for the building as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to have all the details

My wife and I have instructed a Long Itchington conveyancing solicitor for our house purchase (first time buyers) and have noticed in the engagement letter that they are not governed by the Financial Conduct Authority. Should I be worried or is that usually the case with property lawyer?

We can't see why they should be. Most conveyancer don't lend money. You should check that they are governed by the SRA, who have strict obligations covering monies held in their bank.