We have rather assertive sellers who has suggested a exclusivity agreement with a non-refundable deposit two thousand pounds. Are such agreements sensible?
There are two main downsides with entering into any lock out agreement (occasionally termed an exclusivity agreement) is that it diverts attention away from progressing with the conveyancing transaction itself, so unless it requires limited or no negotiation then it could transpire to be a hindrance. It is not particularly popular amongst Burry Port conveyancing solicitors for this reason. The other main issue is the extent of the remedies available - a jilted buyer is very unlikely to be granted injunctive relief to stop the owner completing the sale to a third party, so the only remedy available under the contract will be the reimbursement of wasted charges and, in rare scenarios, the extra payment of penalties.
The Burry Port conveyancing solicitors that just started acting on my purchase in Burry Port have suddenly shut down. I chose them because I had to have a firm on the Yorkshire BS conveyancing panel and my family Burry Port lawyer was not. I cut them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Should our lawyer be raising questions regarding flooding during the conveyancing in Burry Port.
Flooding is a growing risk for solicitors dealing with homes in Burry Port. Some people will purchase a property in Burry Port, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Burry Port. The standard information supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the owner to discover if the premises has historically flooded. If flooding has previously occurred which is not revealed by the owner, then a purchaser could bring a compensation claim stemming from an inaccurate reply. A purchaser’s solicitors may also order an enviro report. This will indicate if there is a recorded flood risk. If so, further investigations will need to be initiated.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Burry Port I like with a park and station nearby, however it's only got 51 years unexpired on the lease. There is not much else in Burry Port for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
As co-executor for the estate of my grandmother I am selling a house in Swansea but live in Burry Port. My conveyancer (based 235 kilometers from mehas requested that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing solicitor in Burry Port who can attest and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Burry Port
Why is New Build conveyancing in Burry Port more costly?
Conveyancing in Burry Port for newly converted or new build homes can sometimes involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further questions and contractual considerations.