The vendors of the home we are purchasing have appointed a conveyancing practitioner in Swansea City who has suggested a preliminary contract with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
Exclusivity agreements are contracts between a home owner and purchaser giving the buyer a ‘clear field’ to the sale of the premises for a certain period of time. For all intents and purposes, an exclusivity agreement is a contract specifying that you should be issued with a contract at a later date being the contract for the actual sale. It is generally used for buyer protection though in many situations, the vendor may stand to benefit from such agreements as well. There are various positives and negatives to having them but you should to check with your lawyer but beware that it may result in costing you extra in conveyancing charges. In light of these reasons these contracts are rare in relation to conveyancing in Swansea City.
At what point does exchange of contracts happen for purchase conveyancing in Swansea City and am I required to attend the solicitors branch?
Where you are round the corner to one of the conveyancing solicitors in Swansea City you are invited in to sign contracts. However, the lender approved solicitors we work with offer a national conveyancing service and provide just as comprehensive and professional a job for you when dealing with you by post or email. The signing of the purchase agreement is not the point of no return. A signed contract is just a prerequisite for the solicitor to officially exchange at the suitable time, which is ordinarily shortly after signing. The procedure 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 Swansea City)to be in the office at the appropriate time.
The Swansea City conveyancing firm that I recently instructed on my house acquisition in Swansea City have suddenly shut down. I chose them because I needed a firm on the Skipton conveyancing panel and my previous Swansea City lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Are there restrictive covenants that are commonly picked up during conveyancing in Swansea City?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Swansea City. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Swansea City. Conveyancing is daunting 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 is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Swansea City
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan.
I am looking for a conveyancing practitioner in Swansea City for my home move. Is there any facility to review a firm’s complaints history with the profession’s regulator?
You may find published Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor call for training requirements.