We have very brash sellers who has recommended a preliminary agreement with a non-refundable deposit 6,000. Are such agreements sensible?
This type of contract is unusual in Barnes, conveyancers are not keen on them as they divert attention from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Secondly, there is no guarantee that just because the seller has signed a lock out contract they will sell to you. They may be motivated to break the contract if they receive sufficient financial inducement to do so because a wronged party with the benefit of a exclusivitycontract will still have to show losses as a consequence of the breach and this may not amount to the financial upside that the owner may obtain by breaching the contract, however morally unworthy it undoubtedly is.
Should our solicitor be making enquiries regarding flooding as part of the conveyancing in Barnes.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Barnes. There are those who acquire a house in Barnes, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a various searches that can be undertaken by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Barnes. The standard information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to discover if the premises has ever been flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser could issue a legal claim for losses as a result of such an incorrect response. A buyer’s solicitors may also carry out an environmental report. This should reveal if there is a recorded flood risk. If so, more detailed investigations will need to be conducted.
How does conveyancing in Barnes differ for new build properties?
Most buyers of new build property in Barnes contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Barnes typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Barnes or who has acted in the same development.
I decided to have a survey completed on a property in Barnes before appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders tend not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Barnes. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barnes to see if the conveyancing will be more expensive.
In my capacity as executor for the estate of my uncle I am disposing of a property in Newport but live in Barnes. My conveyancer (who is 235 miles awayneeds me to execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing practitioner in Barnes to witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are located in Barnes
At last I have had an offer on an flat in Barnes agreed to, but there is a chain. The sellers have offered on somewhere, but it’s not yet tied up, and has viewings of other apartments in the pipeline. I have chosen a nearby conveyancing solicitor in Barnes. What should be my next step? At what stage should I apply for the mortgage with Skipton?
It is normal to have anxieties where there is an associated chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then valuation, Barnes conveyancing search costs, etc). First, you should ensure that your conveyancer is on the Skipton approved list. As to the next steps this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a rising market some home buyers will apply for a home loan with Skipton and arrange for the survey and only if it was satisfactory would they ask their conveyancing practitioner to press on with searches.