The sellers of the property we are purchasing have instructed a conveyancing practitioner in Bewdley who has insisted on a exclusivity contract with a down payment 10k. Are such contracts appropriate for Bewdley conveyancing transactions?
There are two primary drawbacks with signing a lock out agreement (sometimes referred to as an exclusivity agreement) is that it can distract from progressing with the conveyancing work, so in the absence of it needing little or no negotiation then it may transpire to be a hindrance. It is not strongly advocated by Bewdley conveyancing practitioners for this reason. A further negative is the extent of the remedies available - a jilted purchaser is not likely to obtain injunctive relief to stop the vendor completing the sale to another buyer, so the only remedy open via the contract will be the reimbursement of abortive charges and, in restricted scenarios, the additional payment of penalties.
My lawyer in Bewdley is not listed on the The Royal Bank of Scotland Approved Panel. Is it possible for me to retain my prefered solicitor notwithstanding that they are excluded from the The Royal Bank of Scotland panel?
Your options are as follows:
- Carry on with your existing Bewdley solicitors but The Royal Bank of Scotland will need to instruct a lawyer on their panel. This will result in additional total conveyancing charges and result in frustration.
- Find a new practitioner to act in the conveyancing, remembering to check they are The Royal Bank of Scotland approved.
- Persuade your The Royal Bank of Scotland solicitor to attempt to join the The Royal Bank of Scotland panel
I am assisting my sister sell her flat in Bewdley. Does the conveyancer commission an energy assessment or it is for the seller to see to?
Following the demise of HIPs, energy performance certificates was left as a compulsory element of selling a house. An EPC needs to be to hand before the property is advertised. It is not a task that lawyers normally organise. Where you are using a Bewdley conveyancing lawyer they may be willing to arrange EPC’s due to their contacts with long established Bewdley providers
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Bewdley. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Bewdley?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be invited to receive the keys from the property Agents and start moving into the property. Usually this occurs between 1 and 3pm.
I can not fathom if my bank requires a lease extension. I have called into my local Bewdley building society branch on a couple of occasions and was advised it wasn't an issue and they will lend. My Bewdley conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancer must follow the Council of Mortgage Lenders’ Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The lawyers who handled the conveyancing in Bewdley 10 years ago have long since closed. What do I do?
You no longer need to hold title official documentation to evidence that you are the owner of your registered land or property, as the Land Registry have everything they need in a digital format.
Just had an offer accepted on a new build flat in Bewdley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bewdley
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
My husband and I are novice buyers - had an offer accepted, yet the estate agent advised that the seller will only proceed if we appoint their preferred conveyancers as they need an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Bewdley
We suspect that the owner is unaware of this demand. If they desire ‘a quick sale', alienating a motivated buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Bewdley conveyancing lawyers - as opposed tothe ones that will earn the negotiator at the agency a introducer fee or achieve conveyancing figures demanded by head office.