The owners have very pushy vendors who has suggested a preliminary agreement with a payment 6,000. Is it wise to enter into such agreements?
There are a couple of main downsides with entering into any lock out contract (occasionally known as an exclusivity agreement) is that it can distract from making progress with the conveyancing work, so in the absence of it needing little or no negotiation then it could transpire to be a hindrance. It is not promoted amongst Moss Nook conveyancing lawyers as a result. A further concern is the extent of the remedies available - a jilted purchaser is very unlikely to be granted an injunction to bar the seller completing the sale to an alternative purchaser, so the only remedy open via the agreement will be the recovery of abortive charges and, in rare circumstances, the extra payment of penalties.
Do I need to visit the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Moss Nook so that I can pop in to their offices if necessary.
Nowadays approved lawyers for lenders conduct all of the communications through Royal Mail, e-mail or over the phone. This means that they can undertake the conveyancing transaction no matter where you live in the country. Nevertheless you can check if you have the option of going to the offices of your conveyancing lawyer if just in case this is required.
We had appointed conveyancing lawyers located in Moss Nook on the Bank of Ireland solicitor panel. They are now charging me an additional amount for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee set by Bank of Ireland?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer can levy a fee for this. This charge is not dictated by Bank of Ireland but by your Moss Nook conveyancer. Plenty of firms on the Bank of Ireland panel will quote ’dealing with mortgage’ fee but some practices include it on their overall fee.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Moss Nook conveyancer on the Nationwide panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
My sealed bid on a property in Moss Nook has been agreed to, but there is a chain. The owners have offered on somewhere, but it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Moss Nook. What should be my next step? At what point should I apply for the mortgage with Bank of Ireland?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then valuation, Moss Nook conveyancing search costs, etc). First, you must check that your conveyancer is on the Bank of Ireland approved list. Regarding the next stages this very much dictated by the circumstances of your case, motivation for the property and on the state of the market. During a hot market the majority of buyers will apply for the mortgage with Bank of Ireland and pay for the valuation and only if it comes back ok would they ask their solicitor to press on with the conveyancing in Moss Nook.
I am selling our home in Moss Nook and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Moss Nook lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Moss Nook. Having lived in Moss Nook for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You must 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 illness)
Is it best to appoint a Moss Nook conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can handle the legal formalities but they are based 400miles away.
The primary upside of using a high street Moss Nook conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and pester them where appropriate. Having local Moss Nook know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were impressed that should trump using an unknown Moss Nook conveyancing lawyer just because they are based in the area.
I've recently bought a leasehold house in Moss Nook. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Moss Nook Leasehold Conveyancing - Sample of Questions you should consider before buying
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Does the lease have in excess of 90 years remaining? How much is the ground rent and service charge? Is there a share of the freehold?