We have rather brash vendors who has recommended a preliminary contract with a down payment two thousand pounds. Are such agreements sensible?

Exclusivity contracts are contracts binding a home owner and purchaser granting the buyer the sole right to the sale of the premises for a set period of time. Essentially, an exclusivity agreement is a contract specifying that you will have a contract at a later date being the contract for the actual sale. It tends to be used for buyer protection though in some cases, the vendor may stand to benefit from such agreements as well. There are numerous pros and cons to using them but you should to check with your lawyer but note that it may result in incurring extra in conveyancing fees. In light of these reasons these contracts are not popular in relation to conveyancing in Colliers Wood.

Why is leasehold purchase conveyancing in Colliers Wood costs more?

The conveyancing costs on a leasehold property in Colliers Wood is inevitably higher as compared to a freehold transaction. This is due to the additional time necessary in dealing with the landlord and management company to obtain information about whether the rent and maintenance charges have been discharged and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.

The deeds to my house can not be found. The conveyancers who conducted the conveyancing in Colliers Wood years ago no longer exist. What do I do?

In today’s world there are copies made of almost everything, and your conveyancer will be aware exactly where to locate all the appropriate paperwork so you may purchase or sell your property without any difficulty. Where copies can’t be located, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on your property.

What does commercial conveyancing in Colliers Wood cover?

Colliers Wood conveyancing for business premises covers a wide range of services, offered by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

My wife and I purchased a leasehold flat in Colliers Wood. Conveyancing and mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Colliers Wood who acted for me is not around. Any advice?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Colliers Wood conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Colliers Wood Leasehold Conveyancing - Examples of Queries before buying

Is the freehold owned collectively by the tenants? What restrictions are there in the Colliers Wood Lease? The majority of Colliers Wood leasehold properties will incur a service bill for the upkeep of the building invoiced by the management company. Where you purchase the flat you will have to meet this liability, normally quarterly during the year. This could be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all probability there will be a ground rent to be met annual, this is usually not a large figure, say around £50-£100 but you need to check it because sometimes it can be many hundreds of pounds.