We have very brash vendors who has insisted on a preliminary agreement with a non-refundable deposit of 5k. Are such arrangements the norm for Stockbridge conveyancing transactions?
There are two main downsides with entering into any lock out contract (sometimes referred to as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing transaction itself, so in the absence of it needing limited or no negotiation then it could transpire to be unhelpful. It is not particularly popular amongst Stockbridge conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - a jilted buyer is very unlikely to be issued with injunctive relief to stop the vendor completing the sale to another buyer, so the only remedy open via the contract will be the recovery of abortive costs and, in limited circumstances, the additional payment of penalties.
We're in Stockbridge, First time buyers purchasing with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What can a local search inform me regarding the property my wife and I buying in Stockbridge?
Stockbridge conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays an important part in most Stockbridge conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I am buying a new build apartment in Stockbridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Stockbridge
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Do I need to be suspicious by estate agents that I am dealing with are recommending a factory type conveyancing firm rather than a High Street Stockbridge conveyancing company?
As with lots of service providers, often recommendations from connections can be most helpful. But there are numerous people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all put forward conveyancers to choose. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are free to select your preferred lawyer. You need to be aware that the majority of mortgage providers specify a panel list of law firms you have to use for the mortgage related work in your conveyancing.
I am 14 days into a residential purchase having been referred to a firm by the local agent to perform conveyancing in Stockbridge. I am not happy. Can you help me find new conveyancers?
They would need to be really bad to suggest replacing them. Has the mortgage been issued? If so you need to advise them of the new contact details and ensure the offer are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company approved list to avoid supplemental fees and delays. So that should be your starting point. The search tool can help you find a lender approved solicitor for your conveyancing in Stockbridge