We have rather assertive sellers who has insisted on a exclusivity agreement with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
There are a couple of primary downsides with signing a lock out agreement (also referred to as an exclusivity agreement) is that it can distract from progressing with the conveyancing work, so unless it requires minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not promoted by Adwick le Street conveyancing lawyers as a result. The other main negative is the extent of the remedies available - an aggrieved buyer is not likely to be granted injunctive relief to prohibit the owner selling to a third party, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in rare circumstances, the additional payment of damages.
My Conveyancer in Adwick le Street is not listed on the Santander Approved Panel. Is it possible for me to retain my family solicitor even though they are not on the Santander list of approved lawyers?
The limited options open to you here include:
- Carry on with your preferred Adwick le Street solicitors but Santander will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the overall legal fees as well as result in frustration.
- Get an alternative lawyer to act in the conveyancing, remembering to check they are Santander approved.
- Persuade your Santander solicitor to seek to join the Santander panel
I'm purchasing a new build house in Adwick le Street with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not inform my conveyancer about the side-deal as it may impact my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Adwick le Street is where the house is located. Can you offer any opinion?
Flying freeholds in Adwick le Street are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Adwick le Street you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Adwick le Street may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My cousin has suggested that I instruct his lawyers for conveyancing in Adwick le Street. Do I take his guidance?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to have referrals from friends or relatives who have actually previously instructed the solicitor that you are considering.
I happen to be an executor of my recently deceased aunt’s Will, with a house in Adwick le Street which will be sold. The property has never been registered at the Land Registry and I'm advised that some estate agents will insist that it is completed before they will move forward. What's the procedure for this?
In the circumstances you refer to it seems sensible to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.