The owners have rather assertive vendors who has insisted on a preliminary agreement with a deposit 6,000. Is it wise to enter into such agreements?
There are a couple of main downsides with executing a lock out agreement (occasionally known as a shut-out contract) is that it diverts attention away from moving forward with the conveyancing process, so unless it requires little or no negotiation then it could transpire to be a hindrance. It is not strongly advocated by Southfields conveyancing lawyers as a result. A further concern is the extent of the remedies available - a jilted buyer is not likely to be issued with an injunctive ruling by a court to bar the seller selling to another buyer, so the only remedy available under the contract will be the reimbursement of wasted costs and, in rare circumstances, the additional payment of damages.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to use a high street conveyancing solicitor in Southfields?
You should check but the chances are that allocate you one of their panel solicitors where you want the "fee-free" incentive. Speak to the bank to explore if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Southfields.
Have just purchased a repossessed house at auction in Southfields. Conveyancing is necessary. What is next?
Given that you are now to all intents and purposes signed on the dotted line you should find a conveyancing solicitor as a matter of priority as you are faced with a fast approaching a drop dead date to complete the purchase. An auction property will have a bespoke legal pack. This should include most,if not all of the paperwork that your lawyer requires. Where you are dealing with leasehold premises the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You need to hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in order to complete on the on the contractual date .
When it comes to mortgage companies such as HSBC, do Southfields solicitors have to pay a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Is it the case that all Southfields solicitor practices on the Bank of Ireland conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
Despite weeks of looking the Title Certificate and documents to my home are lost. The solicitors who dealt with the conveyancing in Southfields 5 years ago have long since closed. What are my options?
In today’s world there are copies made of almost everything, and your conveyancer should be aware exactly where to find all the relevant paperwork so you can buy or dispose of your property without any difficulty. Where duplicates are not available, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on the premises.
Over the last few months I have been searching for a flat up to £235,500 and found one near me in Southfields I like with open areas and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Southfields for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I am thinking of appointing a conveyancing solicitor in Southfields for my home move. Can I check a firm’s complaints history with the profession’s regulator?
One can review documented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may recorded call for training reasons.