The owners of the house we are looking to purchase hired a conveyancing solicitor in Skegness who has suggested a exclusivity agreement with a payment 10k. Is it wise to enter into such agreements?

There are two primary concerns with executing a lock out agreement (sometimes known as a shut-out contract) is that it diverts attention away from progressing with the conveyancing work, so unless it requires little or no negotiation then it could turn out to be a hindrance. It is not particularly popular by Skegness conveyancing solicitors for this reason. A further negative is the extent of the remedies available - a jilted purchaser is very unlikely to be granted an injunction to prevent the owner completing the sale to an alternative purchaser, so the only remedy open via the agreement will be the recovery of wasted costs and, in restricted scenarios, the extra payment of penalties.

As someone unfamiliar with conveyancing in Skegness what’s your top tip you can give me for the ownership transfer in Skegness

Not many law firms or advisers will tell you this but conveyancing in Skegness or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is an abundance of room for conflict between you and other parties involved in the ownership transfer. E.g., the vendor, property agent and on occasion your mortgage company. Appointing a law firm for your conveyancing in Skegness should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to protect your best interests and to protect you.

There is a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You must always trust your solicitor ahead of the other players when it comes to the legal assignment of property.

It has been 3 months since my purchase conveyancing in Skegness completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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.

How does conveyancing in Skegness differ for new build properties?

Most buyers of new build residence in Skegness contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Skegness tend to buy the site, 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 property lawyers 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 Skegness or who has acted in the same development.

I am looking for a leasehold apartment up to £195,000 and identified one close by in Skegness I like with a park and railway links nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Skegness suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.