We have rather assertive sellers who has suggested a lock out agreement with a payment 6,000. Are such arrangements the norm for Westbury Park conveyancing transactions?

Lock out contracts are contracts binding a home vendor and purchaser granting the buyer exclusive rights to the sale of the premises for a set period of time. For all intents and purposes, an exclusivity agreement is a contract specifying that you should receive a contract at a later date being the main conveyancing contract. It is generally used for buyer assurance though in some cases, the vendor may stand to benefit from such agreements as well. There are many pros and cons to using them but you need to check with your solicitor but beware that it may result in costing you more in conveyancing fees. In light of these reasons these contracts are rare when it comes to conveyancing in Westbury Park.

I have been told that property searches are a common cause of obstruction in Westbury Park conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Westbury Park.

I have been on the look out for a flat up to £305k and found one close by in Westbury Park I like with open areas and railway links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Westbury Park for this price, so just wondered if I would be making a grave error acquiring a short lease?

Should you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.

How simple is it to use the search tool to get a fee calculation from a conveyancing practitioner in Westbury Park on the panel for my bank?

Step one is to select a lender such as National Westminster Bank, Barnsley Building Society or Aldermore then specify your preferred area e.g. Westbury Park. Conveyancing organisations in Westbury Park and further afield should be listed.

Completion is due on our sale of a £325,000 garden flat in Westbury Park on Thursday in a week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Westbury Park?

Westbury Park conveyancing on leasehold flats normally involves administration charges raised by managing agents :

Addressing conveyancing due diligence enquiries Where consent is required before sale in Westbury Park Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Westbury Park leasehold property is £350. For Westbury Park conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

I inherited a 1 bedroom flat in Westbury Park, conveyancing formalities finalised February 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Westbury Park with over 90 years remaining are worth £265,000. The ground rent is £50 yearly. The lease finishes on 21st October 2099

You have 75 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.