The sellers of the house we are hoping to buy hired a conveyancing practitioner in Ramsbottom who has recommended a exclusivity contract with a payment 10k. Are such agreements sensible?

There are two primary concerns with signing a lock out agreement (occasionally referred to as an exclusivity agreement) is that it diverts attention away from moving forward with the conveyancing process, so unless it requires limited or no negotiation then it may turn out to be a hindrance. It is not particularly popular by Ramsbottom conveyancing solicitors for this reason. A supplemental concern is the extent of the remedies available - an aggrieved purchaser should not expect to win an injunctive ruling by a court to stop the vendor completing the sale to a third party, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in limited situations, the extra payment of penalties.

I completed on my home on 7 January and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Ramsbottom said it will be dealt with in less than a month. Are titles in Ramsbottom particularly slow to register?

There is nothing unique about conveyancing in Ramsbottom registration formalities. As opposed to being determined by geographic area, timescales can adjust according to who lodges the application, whether it is in order and if the Land registry communicate with any 3rd parties. At present approximately three quarters of such applications are completed within two weeks but some can be subject to longer delays. Registration is effected once the new owner has moved in to the premises thus registration formalities is not usually primary concern but where it is urgent that the the registration takes place urgently then you or your conveyancer must speak with the land registry and explain the circumstances.

The estate agent has sent us the confirmation of our purchase of a new build flat in Ramsbottom. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ramsbottom

Please confirm the Lease plans are surveyor prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Ramsbottom I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Ramsbottom suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities 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 solicitor regarding this.

Expecting to complete next month on a basement flat in Ramsbottom. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Ramsbottom should include some of the following:

Ground rent - what is due and when is collected, and be on notice if this will change in the future Does the lease prohibit wood flooring? Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? Advice as to the provision as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the wider rights a leaseholder enjoys Repair and maintenance of the property

Ramsbottom Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

How many of the leaseholders are in arrears for their service charge payments? For many Ramsbottom leaseholds the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Ramsbottom require leasehold owners to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. Make sure you enquire if there are any onerous restrictions in the lease. For instance it is very common in Ramsbottom leases that pets are not permitted in certain buildings in Ramsbottom. If you like the propertyin Ramsbottom yet your cat is not allowed to make the move with you then you have a very difficult determination.