The owners have very assertive vendors who has recommended a preliminary agreement with a deposit 6,000. Is it wise to enter into such agreements?
There are a couple of main downsides with executing a lock out contract (also termed a no-shop agreement) is that it diverts attention away from making progress with the conveyancing process, so in the absence of it needing minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not particularly popular amongst Carnforth conveyancing solicitors as a result. The other main negative is the extent of the remedies available - an aggrieved purchaser should not expect to secure an injunctive ruling by a court to prohibit the owner completing the sale to a third party, so the only remedy open via the agreement will be the recovery of abortive charges and, in rare scenarios, the extra payment of penalties.
We are planning on selling our property in Carnforth and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing outfit rather than a conveyancing solicitor in Carnforth. Having lived in Carnforth for three years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am looking for a flat up to £245,000 and identified one round the corner in Carnforth I like with amenity areas and railway links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Carnforth in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Do I need to be wary by estate agents that I am dealing with are suggesting a national conveyancing firm rather than a local Carnforth conveyancing practice?
As is the case with lots of service providers, often input from family and friends can be worth their weight in gold. Yet there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all recommend solicitors to use. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the recommendation. You are free to appoint your preferred conveyancer. However, bear in mind that most banks specify a panel list of lawyers you are obliged to use for the mortgage aspect of your transaction.
I am thinking of appointing a conveyancing practitioner in Carnforth for my home move. Can I check a firm’s record with the legal regulator?
Anyone can find published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may recorded call for training requirements.
What is the reason for my property lawyer requiring various items of ID ahead of starting selling or purchasing a property in Carnforth?
Carnforth lawyers are required by the Law Society, SRA, the Land Registry and current Money Laundering legislation to record that the have verified the identity of their clients. It will also be a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, national insurance number and DOB.