The sellers of the home we are purchasing are using a conveyancing solicitor in Plumstead who has insisted on a exclusivity agreement with a non-refundable deposit 10k. Is it wise to enter into such agreements?

Lock out contracts are contracts binding a property vendor and prospective buyer granting the buyer exclusive rights to the sale of the property within a prescribed time frame. For all intents and purposes, a lock out agreement is a contract stating that you will be issued with a contract at a later time being the contract for the actual sale. It tends to be used for buyer protection though in some cases, the owner may enjoy an upside from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your conveyancer but note that it may end up incurring extra in conveyancing fees. In light of these reasons these contracts are not popular when it comes to conveyancing in Plumstead.

There are numerous conveyancing solicitors in Plumstead but how do I know who I should use?

It would be unwise to be seduced by the cheapest Plumstead conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

I am helping my step-mother sell her house in Plumstead. Does the solicitor commission an energy assessment or should I organise this?

After the demise of Home Information Packs, energy performance certificates became a mandatory part of moving property. An energy performance certificate needs to be commissioned before the property is marketed. It is not as aspect of the sale process that lawyers normally arrange. Where you are using a Plumstead conveyancing solicitor they may be willing to arrange energy performance certificates due to their contacts with reputable Plumstead providers

Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Plumstead. Do I pick up the keys to the property on completion from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Plumstead?

There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.

five months have gone by since my purchase conveyancing in Plumstead took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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 property 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.

Last March I purchased a leasehold property in Plumstead. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am the leaseholder of a basement flat in Plumstead. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to arrive at the price payable.

An example of a Lease Extension matter before the tribunal for a Plumstead residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.

The lawyers conducting our conveyancing in Plumstead has sent documents to review that indicate that the property is unregistered with epitome documents. Is it not the case that all property in Plumstead should be registered?

It is a rare occurrence indeed to find property in Plumstead to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Plumstead conveyancing solicitors will be capable of dealing with this type of conveyancing but in the event that uncertainty prevails the standard proposition these days is for the seller’s conveyancer to deal with the registration formalities first and thereafter sell - this will have a domino effect to result in a significant delay.