The vendors of the home we are hoping to buy have instructed a conveyancing solicitor in Kingstanding who has recommended a exclusivity contract with a payment 10k. Is it wise to enter into such agreements?

Exclusivity contracts are contracts between a home owner and purchaser granting the buyer the sole right to purchase the premises for a limited period of time. For all intents and purposes, a lock out agreement is a contract specifying that you should have a contract at a later date which is the contract for the actual sale. It tends to be utilised for buyer assurance though in some cases, the owner may enjoy an upside from such agreements as well. There are numerous pros and cons to using an agreement but you should to check with your lawyer but note that it may end up incurring extra in conveyancing charges. For these reasons these contracts are avoided in relation to conveyancing in Kingstanding.

I need some fast conveyancing in Kingstanding as I am faced with pressure to exchange contracts inside 2 weeks. Thankfully I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?

As you are not getting a mortgage you are at liberty not to have searches conducted although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Kingstanding the following are instances of issues that can appear and adversely affect the marketability of the property: Enforcement Actions, Overdue Charges, Outstanding Grants, Unadopted Roads,...

How does conveyancing in Kingstanding differ for newly converted properties?

Most buyers of new build or newly converted property in Kingstanding approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Kingstanding tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kingstanding or who has acted in the same development.

I have been on the look out for a leasehold apartment up to £305k and identified one near me in Kingstanding I like with open areas and railway links in the vicinity, however it's only got 61 years unexpired on the lease. I can't really find anything else in Kingstanding suitable, 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 a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Kingstanding. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in Kingstanding are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Kingstanding so you should seriously consider shopping around for a Kingstanding conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.

Kingstanding Conveyancing for Leasehold Flats - Examples of Queries before buying

Is anyone aware of any major works on the horizon that could increase the service fees? Best to be warned whether window replacement or some other major work is pending that will be shared amongst the tenants and may well materially impact the level of the maintenance charges or require a one time payment.