We have rather assertive vendors who has insisted on a exclusivity agreement with a deposit 10k. Are such agreements appropriate for Colsterworth conveyancing transactions?
Exclusivity agreements are agreements between a property vendor and prospective acquirer giving the buyer exclusive rights to purchase the property within a prescribed time frame. Essentially, an exclusivity agreement is a contract stating that you will receive a contract at a later time being the contract for the actual sale. It tends to be used for buyer protection though in some cases, the vendor may stand to benefit from such agreements as well. There are numerous positives and negatives to having an agreement but you need to check with your conveyancer but note that it may end up incurring extra in conveyancing fees. For these reasons these contracts are avoided in relation to conveyancing in Colsterworth.
Are the Colsterworth conveyancing solicitors identified as being on the Lloyds conveyancing panel, together with their details provided by Lloyds?
Colsterworth conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
Does a directory service exist listing Santander panel conveyancers in Colsterworth on the Building Society Association’s Website?
No. There is no such tool on the CML or Building Society Association websites. Very few banks make their panel listings visible over the internet. Where you are seeking to appoint a Colsterworth solicitor on the Santander please use our facility.
I had a mortgage agreed in principle with Principality. Colsterworth conveyancing practitioners are chosen. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality completed the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am selling my apartment. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Principality are being difficult. The Colsterworth solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Various web forums that I have come across warn that are the main reason for hinderance in Colsterworth house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Colsterworth.
About to purchase a new build apartment in Colsterworth. Conveyancing is necessary evil 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 legal work.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Colsterworth
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Colsterworth is where the house is located. What do you suggest?
Flying freeholds in Colsterworth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Colsterworth you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colsterworth 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 property.