We have rather brash sellers who has suggested a preliminary agreement with a payment of 5k. Is it wise to enter into such agreements?
There are two primary drawbacks with entering into any lock out agreement (sometimes termed an exclusivity agreement) is that it takes away the focus from moving forward with the conveyancing work, so unless it requires minimal or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular amongst Portishead conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - a jilted buyer is not likely to be granted an injunction to prevent the vendor disposing of the property to another buyer, so the only remedy open via the contract will be the recovery of wasted costs and, in rare circumstances, the extra payment of penalties.
We note that you have a search directory identifying law firms on the Coventry BS conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Portishead?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Portishead.
My uncle passed away last year and as sole heir and executor I was left the house in Portishead. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
Where you plan to refinance then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
Due to the encouragement of my in-laws I had a survey completed on a house in Portishead in advance of retaining lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies may not issue a loan on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Portishead. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a sole trader planning to take an assignment of a lease of an office on a shopping parade. Can you recommend lawyers offering no-move-no fees for non-domestic conveyancing in Portishead for below £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Portishead, including the disposal and acquisition of businesses as well as simply premises. If you are looking to purchase or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right solicitor. Regarding the fees this will depend on the structure and complexity of the deal. Please provide us with your details or call so as to enable us to provide you with a detailed commercial conveyancing quote.
I have miscalculated my finances and am a couple of thousand pounds short a 10% deposit on my apartment purchase in Portishead , but I still want to exchange. Do I have options?
One option is to try and accept a smaller deposit. Most sellers will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute