My previous solicitor has given a fee estimate £1400 for no completion no fee conveyancing in Littlehampton. I’m selling a Victorian property for £300,000. Is this over the top? Is it above what I should be paying for conveyancing in Littlehampton?
The estimate does seem marginally steep. If you are prepared to invest time contrasting quotes you could shave off some of the expense by perhaps £100 plus VAT. On the other hand, you couldcome to regret opting for an a cheaper lawyer. If is important to check the conveyancer can also act for your bank. Do employ our search tool to select a Littlehampton conveyancing practice on the banks member panel which can often include conveyancing solicitors in Littlehampton.
We have very brash sellers who has insisted on a preliminary agreement with a non-refundable deposit 6,000. Are such agreements sensible?
There are a couple of main downsides with executing a lock out contract (sometimes known as an exclusivity agreement) is that it diverts attention away from making progress with the conveyancing process, so unless it requires minimal or no negotiation then it may transpire to be a hindrance. It is not promoted amongst Littlehampton conveyancing practitioners for this reason. A supplemental negative is the extent of the remedies available - an aggrieved purchaser is very unlikely to be granted an injunction to bar the vendor completing the sale to a third party, so the only remedy available under the agreement will be the recovery of wasted charges and, in limited circumstances, the additional payment of damages.
We are purchasing a 1 bedroom flat in Littlehampton with a residential mortgage from Virgin Money.We would like to retain our Littlehampton conveyancing lawyer but Virgin Money says she’s not on their "panel". It seems we are left with no choice but to instruct a Virgin Money panel firm or retain our high street solicitor and pay for a Virgin Money panel lawyer to represent them. This seems very unfair; Can we not simply insist that Virgin Money use our lawyer?
No, not really. The mortgage offered to you is subject to its various provisions, a common one being that conveyancers needs to be on the Virgin Money conveyancing panel. in the past, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Virgin Money
Should my solicitor be making enquiries regarding flooding during the conveyancing in Littlehampton.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Littlehampton. Some people will purchase a house in Littlehampton, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Littlehampton. The standard completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser may commence a compensation claim stemming from an misleading answer. The buyer’s conveyancers should also order an enviro report. This should disclose if there is a recorded flood risk. If so, more detailed inquiries should be conducted.
I have been on the look out for a flat up to £305k and found one round the corner in Littlehampton I like with a park and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Littlehampton for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My father-in-law has urged me to appoint his lawyers for conveyancing in Littlehampton. Should I choose my own property lawyer?
Much as we are happy to recommend a Littlehampton conveyancing lawyer it’s preferable to find a conveyancing practitioner is to have guidance from friends or family who have actually used the solicitor you're considering.