The vendors of the property we are looking to purchase are using a conveyancing solicitor in Somersham who has insisted on a preliminary contract with a deposit two thousand pounds. Are such agreements sensible?
There are two primary downsides with signing a lock out agreement (also 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 could turn out to be a hindrance. It is not promoted by Somersham conveyancing solicitors for this reason. A further issue is the extent of the remedies available - an aggrieved buyer is not likely to obtain injunctive relief to prevent the seller disposing of the property to an alternative purchaser, so the only remedy available under the agreement will be the reimbursement of wasted costs and, in restricted situations, the extra payment of penalties.
Finally the sale completed on my house in Somersham last September but the buyer keeps SMS messaging me to moan that his conveyancer needs to hear from mine. What should have happened following completion?
After completion of your house sale your solicitor is obliged to send the transfer deeds and all additional paperwork to the buyer’s lawyers. Where relevant, your solicitor must also evidence that the legal charge in favour of the lender has been discharged to the buyers conveyancers. There are no post completion tasks specific conveyancing in Somersham.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would much rather appoint a Somersham based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers if you accept the "fee-free" offer. Speak to the mortgage company to see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Somersham.
I am purchasing a house and the solicitor has mentioned Chancel Repair for which the house may be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this really appropriate for conveyancing in Somersham
Unless a previous purchase of the premises completed post 12 October 2013 you may expect solicitors carrying out conveyancing in Somersham to continue to suggest a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Somersham is where the house is located. Is there any guidance you can give?
Flying freeholds in Somersham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Somersham you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Somersham 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.
I am a fortnight into a residential purchase having been directed to solicitors by the local agent to execute conveyancing in Somersham. I am am very frustrated with the level of service. Could you help me find new conveyancers?
A lawyer would have to be really poor to suggest changing them. Has your mortgage offer been generated? In the event that it has you will need to inform them of the new conveyancer and ensure the mortgage documents are re-sent. Your new conveyancer needs to be on the mortgage company panel to avoid escalating costs and delays. So that should be your starting point. The search tool should assist you in finding a bank approved conveyancer for your home move in Somersham