We have rather assertive vendors who has suggested a preliminary agreement with a deposit of 5k. Are such contracts promoted for South Ockendon conveyancing transactions?
Lock out agreements are contracts between a home owner and purchaser granting the buyer exclusive rights to purchase the premises for a certain period of time. Essentially, a lock out agreement is a contract stating that you should receive a contract at a later time being the contract for the actual sale. It is generally used for buyer protection though in many situations, the proprietor may enjoy an upside from such agreements as well. There are various positives and negatives to using them but you should to check with your solicitor but beware that it may result in incurring extra in conveyancing charges. For these reasons these agreements are not popular when it comes to conveyancing in South Ockendon.
At what point can the exchange of contracts occur in domestic conveyancing in South Ockendon and am I required to be at the lawyers office?
Where you are local to our conveyancing solicitors in South Ockendon you are welcome to attend to sign documents. That being said, the law practices we work with provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you electronically. The signing of the property agreement is not when everything is set in stone. A signed contract is just a prerequisite for the firm to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in South Ockendon)to be in the office at the appropriate time.
We are buying a apartment in South Ockendon. It might be a silly question but how we can trust a conveyancer? At some point we have to deposit our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in South Ockendon. A rare aspect is that the roof has a solar panel. UBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with UBS your lawyer must comply with the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and conveyancers are required to report to UBS where a lease does not comply with these specifications. The requirements relate to the installation of panels on properties in England and Wales and is not restricted to South Ockendon.
I can not work out if my mortgage offer requires a lease extension. I have called my South Ockendon bank branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My South Ockendon conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. I have no idea who is right.
Your conveyancer must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
My partner and I are downsizing from our house in South Ockendon and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street South Ockendon lawyer would know this is not the case. For the life of me I don't know why the purchasers used an online conveyancing firm rather than a conveyancing solicitor in South Ockendon. Having lived in South Ockendon for six years we know of no issue. Is it a good idea to get in touch with our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You need to 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 ailment)
I've recently found out 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, no chain conveyancing. South Ockendon is where the house is located. Is there any advice you can give?
Flying freeholds in South Ockendon are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Ockendon you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Ockendon may determine 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 residence.
I need to instruct a conveyancing solicitor for some conveyancing in South Ockendon. I've stumble upon a web site which looks to be the perfect solution If there is a chance to get all formalities done via web that would be ideal. Should I be concerned? What are the potential pitfalls?
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?