The owners of the property we are looking to purchase have instructed a conveyancing firm in West Yorkshire who has insisted on a lock out contract with a down payment 10k. Is it wise to enter into such agreements?
This form of contract is not the norm in West Yorkshire, conveyancers will often try and steer clients away from them as they detract from focusing on the main conveyancing focus and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no assurance that just because the vendor has entered into an exclusivity contract they will complete the sale with you. They may be in contravention of the agreement if they receive a large enough financial inducement to do so because an aggrieved party with the benefit of a lockoutcontract will still be obliged establish consequential losses from the breach and these may not equate the financial upside that the owner may obtain by reneging on the contract, however morally reprehensible that may be.
We see that you have a post code search directory listing law firms on the Principality conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in West Yorkshire?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in West Yorkshire.
Our bank has suggested a law firm on their panel based in West Yorkshire but I would rather choose a conveyancing lawyer in West Yorkshire or nearer to where I live. Can you assist?
The minority of West Yorkshire conveyancing solicitors are on all lender’s conveyancing panel. Use our find an approved solicitor tool to choose a West Yorkshire conveyancing conveyancer on the on the bank panel.
I am buying a new build flat in West Yorkshire. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in West Yorkshire
There must be mutual enforceability of lessee’s covenants. 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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
I am looking for a flat up to £195,000 and identified one round the corner in West Yorkshire I like with amenity areas and station in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in West Yorkshire suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage that many years may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.