We have rather brash sellers who has insisted on a preliminary contract with a non-refundable deposit 10k. Are such agreements the norm for Purley conveyancing transactions?
There are a couple of primary downsides with executing a lock out contract (sometimes termed a shut-out contract) is that it diverts attention away from making progress with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it may transpire to be a cause of frustration and delay. It is not particularly popular by Purley conveyancing solicitors as a result. A supplemental concern is the extent of the remedies available - a jilted purchaser is not likely to win an injunction to stop the seller selling to another buyer, so the only remedy open via the contract will be the recovery of abortive charges and, in limited circumstances, the additional payment of damages.
When scouring consumer advice sites for a cheap solicitor in Purley, most comment that I should look for a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in the legal transfer of properties, trusted by some of the UK's major mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Council of Licensed Conveyancing. Purley is one of the many areas of the UK where there are Accredited solicitors.
It has been three months following my purchase conveyancing in Purley took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Purley differ for newly converted properties?
Most buyers of new build or newly converted property in Purley come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Purley typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Purley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Purley is the location of the property. What do you suggest?
Flying freeholds in Purley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Purley you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Purley may ascertain 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 premises.
I need to retain a conveyancing solicitor for freehold conveyancing in Purley. I've discover a web site which appears to be the ideal solution If there is a chance to get all this stuff completed via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?