The nervous wait to exchange....

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FNG said:
Neighbours can not enforce a covenant, only the original party (or those specifically mentioned in the deeds w.r.t the covenant) can.
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Thats my understanding, and in the case of...

any building changes shouldn't impact air&light for others
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Standard planning permission and building regulation approval would apply, and would presumably be denied if it affected your neighbours rights or if they contested it.
 
Mysterae_ said:
I remember two covenants in particular from when we bought our house. The first was that any precious metals or minerals discovered on our land belonged to the state and they had the right to raze the land and house to obtain them. The other was that we are not allowed to run a business from home or associated land which might be a problem as looking to the future that could be a possibility.
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I think you have to take that sort of thing in the spirit in which it was written...

... I mean constructing a toolshop and doing metalwork in the back garden would be a clear breach due to noise and disruption and deliveries of materials, customers coming in and out all day, etc.

By 'running a business' You might be running an online business from home, it's a very different scenario as it has zero impact on any neighbours, and they'd never even know about it anyway so it's moot.
 
mattyfez said:
I think you have to take that sort of thing in the spirit in which it was written...

... I mean constructing a toolshop and doing metalwork in the back garden would be a clear breach due to noise and disruption and deliveries of materials, customers coming in and out all day, etc.

By 'running a business' You might be running an online business from home, it's a very different scenario as it has zero impact on any neighbours, and they'd never even know about it anyway so it's moot.
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This often comes down to wording e.g. "carrying out business" is not the same as running a business.

In terms of rates, insurance etc it usually is separated by whether you have customers visit the premises or work alone.
 
mattyfez said:
Thats my understanding, and in the case of...
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the covenant becomes meaningless (should be removed?) if the body that administers it,and the similar ones the neigbours have, isn't contactable to register the transfer of them/their obligations to new owners,
as the covenant usually demands.

mattyfez said:
Standard planning permission and building regulation approval would apply, and would presumably be denied if it affected your neighbours rights or if they contested it.
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I don't know the way in which standard planning permissions enforce light&air (thought it was a measurable degradation incurred versus when you move in)
but I took ours as a more constrained requirement, even partially adjudicated by the administrative company
 
guess this partially covers it - if you break covenant during your ownership.

Dealing with a restrictive covenant breach when buying a new home​

A house seller is often asked to confirm that he or she has complied with any restrictive covenants on the property. A seller may be in breach of a restrictive covenant as a result of having an extension built or structurally altered the property without obtaining the original developer’s consent, for example. In these cases, the seller may offer to provide to the buyers with a restrictive covenants indemnity insurance policy. The policy covers the buyers and their lender for any loss arising as a result of a future enforcement of the restrictive covenants.
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e: or
You may consider that you have the benefit of a covenant and want to stop a neighbour from doing something on their land such as building a large extension. On the other hand, you may want advice on whether your neighbour can stop you building an extension. The question of whether the benefit or the burden of a covenant has passed to owners not original party to the Deed is a complex legal issue and you will require specialist advice.
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my neighbour is benefitting from covenant that says I can't renovate as I want, as I would be for similar covenant he signed, so could protest.
 
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Edging closer.. talks of completing this Friday. Our buyer understandably wants exchange no later than Wednesday so they can arrange removals etc. But our solicitor suggests that may not be possible due to timeframe. They're also waiting on our buyers solicitor to formally put forward the proposed completion date. Fingers crossed guys..
 
Macky said:
Edging closer.. talks of completing this Friday. Our buyer understandably wants exchange no later than Wednesday so they can arrange removals etc. But our solicitor suggests that may not be possible due to timeframe. They're also waiting on our buyers solicitor to formally put forward the proposed completion date. Fingers crossed guys..
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Short timeframes between exchange and completion might attract hefty fees. Our solicitor charged an additional fee (£250 iirc) for completions within 7 days of exchange and a further £650 if same day. I know it isn't the end of the world but worth knowing/checking.
 
DRZ said:
Short timeframes between exchange and completion might attract hefty fees. Our solicitor charged an additional fee (£250 iirc) for completions within 7 days of exchange and a further £650 if same day. I know it isn't the end of the world but worth knowing/checking.
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Exactly the same with ours. They've already missed our target so I'm just waiting for the next date they propose and whether they try and suggest a short date to try and charge more.
 
DRZ said:
Short timeframes between exchange and completion might attract hefty fees. Our solicitor charged an additional fee (£250 iirc) for completions within 7 days of exchange and a further £650 if same day. I know it isn't the end of the world but worth knowing/checking.
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That's bull poo, they are both just admin tasks. They can be done a week apart or the same day, it makes no difference aslong as the money gets paid.
 
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mattyfez said:
That's bull poo, they are both just admin tasks. They can be done a week apart or the same day, it makes no difference aslong as the money gets paid.
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Agree, but in my case I paid for a competitively priced service, with clear notes on additional fees. If they want to make more money from people who need a specific service then I'm happy. The additional fees were very clearly signposted when I signed up
 
Conveyance generaly costs about £800 -£1000 'all in' and you should get a firm estimate/quote on that, unless things go seriously sideways...

To strap on an extra £650 as per @DRZ that just sounds like price gouging/taking advantage.

EDIT, unles he only paid like £300 to start with?
 
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mattyfez said:
Conveyance generaly costs about £800 -£1000 'all in' and you should get a firm estimate/quote on that, unless things go seriously sideways...

To strap on an extra £650 as per @DRZ that just sounds like price gouging/taking advantage.

EDIT, unles he only paid like £300 to start with?
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There's a massive gamut of conveyancing pricing. We've dealt with conveyancing factories who charge an all-in fee and we've dealt with more 'boutique' firms who have a schedule of fees so you only pay for what you need but might result in a higher overall cost. The latter has invariably been a vastly superior experience. You get what you pay for and disposing of our final BTL was a dream with the solicitors we used. Most people only go through this stuff two or three times in their lives so accept absolutely diabolical service because it is cheap but it isn't worth the saving, even when you're doing multiple transactions.

Same-day exchange and completion generally involves a lot more time than 'normal' - contracts read out in full over the telephone, lots of moving money around on the spot etc, no ability to draw down the mortgage in advance if applicable etc. It needs the teams involved to be coordinated. There's little wonder that good solicitors will charge extra for what is a lot of work vs just posting the contracts to each other, casually drawing down the mortgage sometime after exchange but in generally good time etc.
 
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Had a same day exchange/complete at start of April (there was a discussion a few pages back on those that had had them!)
- no additional cost , but the solicitor had money deposited in advance and wasn't part of a chain,
equally pretty sure the contract had been provided beforehand to the seller so they had had a heads up and just needed assertion that nothing has changed.
 
NvidiaDan said:
Currently waiting for searches to come back on our first home purchase. They are due back on Tuesday and the house is unoccupied with no chain.

Do you think expecting to complete in the next 4 weeks is too optimistic?

Solicitor has been impressive so far!
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Well my expectations have been exeeded! Contract signed today and everyone has agreeed exchange and completion for next Friday (No extra fee)

Friday the 13th. What could possibly go wrong!

Offer was accepted on the 3rd of July
 
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