We have very assertive vendors who has recommended a exclusivity contract with a payment of 5k. Are such agreements promoted for Debenham conveyancing transactions?
There are two primary drawbacks with signing a lock out agreement (occasionally known as a shut-out contract) is that it can distract from progressing with the conveyancing process, so in the absence of it needing minimal or no negotiation then it may transpire to be a cause of frustration and delay. It is not strongly advocated by Debenham conveyancing practitioners for this reason. A further issue is the extent of the remedies available - a jilted buyer is not likely to win injunctive relief to prevent the vendor disposing of the property to an alternative purchaser, so the only remedy open via the agreement will be the recovery of wasted costs and, in restricted circumstances, the additional payment of penalties.
Having sold my house in Debenham last April yet the purchaser is SMS messaging every few hours to moan that her conveyancer needs to hear from mysolicitor. What are the post completion sale legalities following completion?
Following your disposal your lawyer should deliver the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer must also send confirmation that the mortgage has been paid off to the buyers lawyers. There is unlikely to be post completion requirements peculiar conveyancing in Debenham.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Debenham. Do I receive the keys to the house on the completion date from my solicitor? If this is the case, I will find a local conveyancing solicitor in Debenham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
About to purchase flat in Debenham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Debenham conveyancing practitioner is on the Yorkshire BS conveyancing panel.
After what seems like an age I have had an offer on a flat in Debenham agreed to, but there is a chain. The owners have offered on a property, but it’s not been accepted yet, and have viewings of other flats booked. I have chosen a high street conveyancing solicitor in Debenham. What do I do now? At what point should I apply for the mortgage with Nottingham?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Debenham conveyancing search fees, etc). First, you must check that your property lawyer is on the Nottingham approved list. As to the next stages this very much depends on the specifics of your case, motivation for this property and on the state of the market. During a buoyant market the majority of home buyers would apply for a home loan with Nottingham and arrange for the valuation and only if it comes back ok would they pay their conveyancer to proceed with the conveyancing in Debenham.
It has been 3 months following my purchase conveyancing in Debenham concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My wife and I purchased a leasehold flat in Debenham. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Debenham who previously acted has now retired. What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Debenham conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 1 bedroom flat in Debenham, conveyancing was carried out in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Debenham with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2076
With only 51 years left to run the likely cost is going to span between £30,400 and £35,200 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.