The vendors of the property we are hoping to buy have instructed a conveyancing firm in Sparkhill who has suggested a exclusivity contract with a payment of 5k. Is it wise to enter into such agreements?

There are two main drawbacks with entering into any lock out contract (occasionally known as a no-shop agreement) is that it diverts attention away from progressing with the conveyancing work, so in the absence of it needing limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not promoted amongst Sparkhill conveyancing practitioners as a result. The other main issue is the extent of the remedies available - a jilted purchaser is very unlikely to secure an injunction to prohibit the seller selling to another buyer, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in limited situations, the additional payment of damages.

If you had a top tip for selecting a conveyancing solicitor in Sparkhill what would it be?

Do not opt for the lowest Sparkhill conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.

I just acquired a flat at auction in Sparkhill. Conveyancing is necessary. What happens now?

Now that you are exchanged you should instruct a conveyancing solicitor quickly as you now have a fast approaching a fixed date to complete the conveyancing. Every auction property should have a corresponding auction pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the legal pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to pass this on to the solicitor instructed by you as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.

We were going to get a AIP from UBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any Sparkhill solicitors on the UBS conveyancing panel, or is it better to go independently?

You will need to appoint Sparkhill solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.

What does a local search inform me regarding the property my wife and I buying in Sparkhill?

Sparkhill conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as PSG The local search is essential in every Sparkhill conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.

I have been on the look out for a ground for flat up to £195,000 and identified one close by in Sparkhill I like with a park and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Sparkhill 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 home loan the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.

My wife and I may need to sub-let our Sparkhill basement flat for a while due to taking a sabbatical. We instructed a Sparkhill conveyancing practice in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Sparkhill do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Sparkhill Leasehold Conveyancing - A selection of Queries Prior to buying

Where a Sparkhill lease has fewer than eighty years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of how much this would cost. Remember, in most cases you will be be obliged to have owned the premises for two years in order to be eligible to carry out a lease extension. The answer will be helpful as a) areas can cause problems in the building as the communal areas may begin to deteriorate where maintenance are not paid for b) if the tenants have an issue with the running of the building you will need to have all the details It is important to be aware whether a new roof is being installed or some other major work is due shortly to be shared by the tenants and will dramatically impact the level of the service costs or result in a specific invoice.