The owners have rather brash sellers who has recommended a lock out agreement with a non-refundable deposit two thousand pounds. Are such agreements sensible?

Lock out agreements are agreements between a home seller and prospective acquirer giving the buyer exclusive rights to the sale of the premises for a certain period of time. Essentially, a lock out is a document specifying that you should receive a contract at a later time being the contract for the actual sale. It is generally utilised for buyer confidence though in some cases, the owner may stand to benefit from such agreements as well. There are various positives and negatives to using them but you should to check with your lawyer but beware that it may end up incurring more in conveyancing charges. For these reasons these contracts are not popular in relation to conveyancing in Mossley Hill.

Do lawyers request money up-front when it comes to conveyancing in Mossley Hill?

If you are buying a property in Mossley Hill your solicitor will ask you put them with monies to cover the the cost of the conveyancing searches. Normally this is called for to cover the fees of the Local Authority Search. If any deposit is payable against the sale price then this should be asked for immediately in advance of contracts are exchanged. The closing balance that is needed should be sent to your lawyer shortly before completion.

Have just purchased a repossessed house at auction in Mossley Hill. Conveyancing is necessary. What are my next steps?

Given that you are now exchanged you must hire the services of a conveyancing solicitor quickly as you are facing a fast approaching a drop dead date to complete the transaction. An auction property should have a corresponding legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You should pass this on to the solicitor instructed by you ASAP. You also need to ensure that that you have the requisite funding in order to complete on the on the contractual date .

I am purchasing a property in Mossley Hill. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?

As your lender is RBS your lawyer must check the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and solicitors are required to report to RBS where a lease fails to comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not restricted to Mossley Hill.

I have decided to exercise my right to buy my property in Mossley Hill off the council. I have a mortgage offer with Nationwide. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.

I need some expedited conveyancing in Mossley Hill as I am under a deadline to complete in less than 3 weeks. Luckily I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?

If.Given you are are a cash purchaser you have the choice not to do searches although no law firm would advise that you don't. With plenty of history conveyancing in Mossley Hill the following are examples of issues that can be revealed and therefore affect market value: Enforcement Notices, Outstanding Fees, Outstanding Grants, Railway Schemes,...

We own a leasehold flat in Mossley Hill. Conveyancing was finished in last year. I have been told that I should not let the the remaining lease term to fall too short. Why is that a problem?

Mossley Hill residential long term leases are for a fixed term - often just under one hundred years when they commenced. However a significant flats in Mossley Hill were built or converted in the 60’s and so such leases now have fewer than 80 years left to run. That may sound like plenty of time however Banks, Building Societies and other mortgage lenders tend to require leases to have a minimum of seventy five years left to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are getting close to eighty years. To optimize the saleability of your property you should be thinking about whether or not to extend your lease well in advance of selling the property. There are also significant benefits to taking action before the lease hits eighty years as when the lease is below 80 years the premium you have to pay to extend starts to escalate.