The vendors of the property we are purchasing hired a conveyancing practitioner in Tidworth who has recommended a preliminary contract with a down payment of 5k. Is it wise to enter into such agreements?
Exclusivity contracts are contracts between a property owner and prospective buyer giving the buyer a ‘clear field’ to the sale of the premises within an agreed time frame. Essentially, a lock out agreement is a contract specifying that you should be issued with a contract at a later time which is the main conveyancing contract. It tends to be used for buyer confidence though in some cases, the owner may enjoy an upside from such agreements as well. There are many pros and cons to having an agreement but you need to check with your conveyancer but note that it may end up costing you more in conveyancing charges. For these reasons these agreements are not popular when it comes to conveyancing in Tidworth.
It is a dozen years since I bought my property in Tidworth. Conveyancing solicitors have recently been instructed on the sale but I am unable to find the deeds. Is this a major issue?
You need not be too concerned. Firstly the deeds may be with your mortgage company or they may be in the possession of the lawyers who acted in your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Tidworth relates to registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
My house in Tidworth is up for sale and I have a buyer. Does the lawyer need to be required to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Will our solicitor be raising questions regarding flooding as part of the conveyancing in Tidworth.
Flooding is a growing risk for solicitors dealing with homes in Tidworth. Plenty of people will purchase a property in Tidworth, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a various searches that can be undertaken by the purchaser or by their solicitors which can figure out the risks in Tidworth. The conventional set of information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out if the premises has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a purchaser may bring a claim for damages as a result of such an misleading response. The purchaser’s lawyers will also carry out an enviro report. This should reveal if there is a recorded flood risk. If so, further inquiries should be made.
Just had an offer accepted on a new build flat in Tidworth. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Tidworth
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
In my capacity as executor for the will of my grandmother I am disposing of a property in Swansea but live in Tidworth. My conveyancer (based 200 kilometers awayrequires that I execute a statutory declaration prior to completion. Can you recommend a conveyancing solicitor in Tidworth who can attest and place their company stamp on the document?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Tidworth based