We have very assertive vendors who has insisted on a preliminary agreement with a non-refundable deposit of 5k. Are such agreements sensible?
Lock out agreements are agreements between a home owner and purchaser giving the buyer a ‘clear field’ to the sale of the premises within a prescribed time frame. Essentially, a lock out agreement is a contract specifying that you will be issued with a contract at a later date which is the contract for the actual sale. It is generally used for buyer protection though in many situations, the owner may stand to benefit from such agreements as well. There are various positives and negatives to having them but you need to check with your lawyer but beware that it may end up costing you extra in conveyancing fees. In light of this these agreements are not popular when it comes to conveyancing in Longlands.
Will commercial conveyancing searches disclose impending roadworks that could affect a commercial land in Longlands?
Many commercial conveyancing solicitors in Longlands will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Longlands. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Longlands.
For each commercial conveyancing transaction in Longlands it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Longlands commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Longlands.
I'm purchasing my first flat in Longlands benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my lawyer about the deal as it will affect my mortgage with Bank of Ireland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Longlands is the location of the property. Can you shed any light on this issue?
Flying freeholds in Longlands are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Longlands you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Longlands may decide 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 residence.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Longlands. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Longlands ?
The majority of houses in Longlands are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Longlands in which case you should be looking for a Longlands conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Longlands conveyancing firm to act on my behalf?
Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Lease Extension case for a Longlands flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.