We have rather pushy vendors who has recommended a exclusivity contract with a payment 6,000. Are such agreements appropriate for Caddington conveyancing transactions?

There are a couple of main drawbacks with executing a lock out contract (also termed a shut-out contract) is that it can distract from making progress with the conveyancing process, so unless it requires limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not strongly advocated by Caddington conveyancing solicitors for this reason. A further concern is the extent of the remedies available - an aggrieved buyer is not likely to win an injunction to prevent the owner selling to a third party, so the only remedy open via the contract will be the recovery of wasted charges and, in restricted circumstances, the additional payment of damages.

At what point does exchange of contracts happen for residential conveyancing in Caddington and do I need to attend the lawyers office?

If you are round the corner to one of the conveyancing solicitors in Caddington you are invited in to sign the paperwork. That being said, the lender approved solicitors we recommend offer countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you digitally. The executing of the contract is not the important part. Signing on the dotted line is just a prerequisite for the solicitor to exchange contracts at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Caddington)to be in the office available at the end of the phone to exchange contracts.

Our mortgage company has recommended a law firm on their panel based in Caddington but I would rather use a conveyancing lawyer in Caddington or nearer to where I live. Can you assist?

The minority of Caddington conveyancing practitioners are listed all banks conveyancing panel. Do make use of the above find an approved solicitor tool to locate a Caddington conveyancing solicitor on the on the bank panel.

Should my conveyancer be making enquiries about flooding as part of the conveyancing in Caddington.

The risk of flooding is if increasing concern for solicitors dealing with homes in Caddington. There are those who purchase a property in Caddington, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.

Solicitors are not qualified to impart advice on flood risk, but there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Caddington. The conventional set of information given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover whether the premises has historically flooded. If the premises has been flooded in past which is not disclosed by the owner, then a purchaser could commence a compensation claim resulting from an incorrect reply. A purchaser’s conveyancers may also carry out an enviro report. This will indicate if there is any known flood risk. If so, further investigations will need to be conducted.

I am looking at a couple of apartments in Caddington both have about fifty years left on the lease term. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.

I acquired a ground floor flat in Caddington, conveyancing was carried out in 2000. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Caddington with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2088

With just 63 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.