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Recently asked questions about conveyancing in Stanley

The owners have very brash vendors who has recommended a lock out agreement with a payment 10k. Is it wise to enter into such agreements?

This type of contract is not the norm in Stanley, conveyancers will often try and steer clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Secondly, there is no certainty that just because the proprietor has executed an exclusivity contract they will sell to you. They may be tempted to break the contract if they are offered a large enough financial inducement to do so because a wronged buyer with the benefit of a exclusivity agreement will still be duty bound to establish consequential losses from the breach and this may not amount to the extra amount that your seller may gain by reneging on the agreement, no matter how morally unworthy it undoubtedly is.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Stanley?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Stanley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Over the last few months I have been searching for a flat up to £305k and found one round the corner in Stanley I like with open areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Stanley suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you require a home loan that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.

As co-executor for the will of my uncle I am disposing of a property in Monmouth but I am based in Stanley. My lawyer (based 235 kilometers awayhas requested that I sign a stat dec before completion. Can you recommend a conveyancing practitioner in Stanley who can witness and place their company stamp on the document?

Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Stanley

I am intending to let out my leasehold flat in Stanley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Stanley conveyancing solicitor is no longer around you can check your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to seek permission from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of prior permission. Such consent must not not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I invested in buying a basement flat in Stanley, conveyancing having been completed August 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Stanley with a long lease are worth £255,000. The ground rent is £45 yearly. The lease expires on 21st October 2098

With only 74 years unexpired the likely cost is going to range between £8,600 and £9,800 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

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