The owners have rather brash sellers who has insisted on a exclusivity agreement with a down payment 6,000. Are such agreements generally advanced for Midsomer Norton conveyancing transactions?
There are a couple of main downsides with signing a lock out agreement (also referred to as an exclusivity agreement) is that it can distract from moving forward with the conveyancing process, so unless it requires limited or no negotiation then it could transpire to be a hindrance. It is not particularly popular amongst Midsomer Norton conveyancing practitioners as a result. A further negative is the extent of the remedies available - a jilted purchaser is very unlikely to win an injunctive ruling by a court to prevent the seller completing the sale to an alternative purchaser, so the only remedy available under the contract will be the recovery of wasted costs and, in limited scenarios, the additional payment of damages.
I am the registered owner of a freehold house in Midsomer Norton but still charged rent, why is this and what is this?
It is rare for properties in Midsomer Norton and has limited impact for conveyancing in Midsomer Norton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My house in Midsomer Norton is up for sale and I have a purchaser. Does the solicitor have to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
About to purchase a new build apartment in Midsomer Norton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Midsomer Norton
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Are there any apps to help search for a Midsomer Norton solicitor on the Britannia conveyancing panel? I have a car and am prepared to travel upto 20miles to meet the lawyer.
Feel free to make use of the facility on this page. Please choose the lender and your location and you will see a number of Midsomer Norton conveyancing lawyers located nearest you. We have detailed some Midsomer Norton conveyancing firms at the bottom of this page and you can call them to see if they are on the Britannia member panel