The vendors of the home we are hoping to buy are using a conveyancing firm in Belper who has recommended a lock out agreement with a deposit 10k. Are such agreements sensible?
Exclusivity contracts are agreements between a property vendor and purchaser giving the buyer the sole right to the sale of the premises within a prescribed time frame. For all intents and purposes, a lock out agreement is a contract specifying that you should have a contract at a later date which is the contract for the actual sale. It tends to be utilised for buyer assurance though in many situations, the seller may stand to benefit from such agreements as well. There are numerous pros and cons to using them but you should to check with your lawyer but beware that it may end up incurring more in conveyancing charges. In light of this these agreements are not popular when it comes to conveyancing in Belper.
I am selling my house in Belper. Will the conveyancing practitioner need to be on the Bank of Ireland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland 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 currently.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when buying a property in Belper?
Unless a prior acquisition of the premises completed after 12 October 2013 you can assume that conveyancing practitioners conducting conveyancing in Belper to remain encouraging a chancel search and or chancel repair liability insurance.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who conducted the conveyancing in Belper 10 years ago are no longer around. What are my next steps?
In today’s world there are copies made of almost everything, and your solicitor will be aware exactly where to look for all the appropriate documentation so you may buy or sell your property without any difficulty. Where copies can’t be found, your solicitor can arrange cover in the form of insurance or indemnities against possible claims on the property.
We're FTB’s - had an offer accepted, yet the estate agent informed us that the owners will only move forward if we instruct the agent's recommended lawyers as they are insisting on an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Belper
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', alienating a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are ready to go, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you will continue to instruct your preferred Belper conveyancing solicitors - rather thanthe ones that will earn their estate agent a introducer fee or meet his conveyancing targets demanded by senior management.
My partner and I have an offer in principle from Alliance & Leicester who suggested that they will lend up to £300k. When do we need to instruct a lawyer for conveyancing? Belper is where we plan to move to.
It would be wise to appoint a conveyancer now so that the solicitor can open the file so they can conduct the ID checks etc. Once you wish them to commence work they will seek a payment on account normally approximately £200. That would generally be once you have the loan offer from your lender and survey report, but should you wish to expedite the process you can start the ball rolling sooner albeit risking some money.