We have very pushy vendors who has recommended a preliminary contract with a non-refundable deposit of 5k. Are such agreements sensible?
There are two primary downsides with entering into any lock out contract (sometimes referred to as an exclusivity agreement) is that it takes away the focus from progressing with the conveyancing process, so unless it requires minimal or no negotiation then it may transpire to be unhelpful. It is not particularly popular by Arnold conveyancing practitioners as a result. A further negative is the extent of the remedies available - a jilted buyer is very unlikely to be issued with an injunctive ruling by a court to prevent the owner selling to a third party, so the only remedy open via the contract will be the recovery of wasted costs and, in restricted scenarios, the additional payment of damages.
How up to date is your database of Arnold solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Arnold conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I used Arc property Solicitors several years past for my conveyancing in Arnold. I now require my papers however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Arnold of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying a new build house in Arnold benefiting from help to buy. The sellers would not reduce the price so I negotiated £7000 of additionals instead. The property agent told me not to tell my solicitor about the side-deal as it will affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Given that I will soon part with hundreds of thousands of pounds on a two bedroom apartment in Arnold I would like to talk to a conveyancer regarding theconveyancing ahead of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor due to be carrying out your conveyancing in Arnold.There is no ‘factory style conveyancing’ - every client is unique person, not a case reference. The solicitors that we put you in touch with believe that the figure you are provided with for residential conveyancing in Arnold should be the amount on the final invoice that you are charged.
Expecting to complete next month on a studio apartment in Arnold. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Arnold should include some of the following:
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Where does the liability rest for repairing the window frames Are you allowed to have a pet in the flat? Additions to the flat specifics of the parties to the lease, for example these could be the (you), superior lessor, landlord Whether your lease has a provision for a sinking fund for major repairs?
I own a studio flat in Arnold, conveyancing having been completed October 1998. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Arnold with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2079
With just 55 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.