We have rather brash sellers who has recommended a preliminary agreement with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
Exclusivity agreements are agreements binding a property seller and purchaser giving the buyer the sole right to the sale of the premises within an agreed time frame. Essentially, a lock out is a document stating that you should have a contract at a later date being the main conveyancing contract. It is generally utilised for buyer confidence though in some cases, the owner may stand to benefit from such agreements as well. There are numerous pros and cons to using an agreement but you should to check with your lawyer but beware that it may result in incurring extra in conveyancing fees. For these reasons these agreements are rare when it comes to conveyancing in Hanslope.
When can the exchange of contracts take place for purchase conveyancing in Hanslope and do I need to attend the conveyancers branch?
If you are in close proximity to our conveyancing solicitors in Hanslope you are welcome to come in to sign the paperwork. That being said, the firms we recommend offer countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when communicating with you digitally. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the solicitor to address the formalities at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hanslope)to be in the office at the appropriate time.
My lawyer in Hanslope is not on the Accord Mortgages Ltd Solicitor Panel. Is it possible for me to retain my prefered solicitor even though they are not on the Accord Mortgages Ltd approved list?
The limited options available to you here include:
- Carry on with your preferred Hanslope lawyers but Accord Mortgages Ltd will need to instruct a lawyer on their list of acceptable firms. This will inevitably rack up the total conveyancing fees as well as cause frustration.
- Choose a new practitioner to to deal with the purchase, obviously checking they are Convince your solicitor to do everything within their powers to join the Accord Mortgages Ltd conveyancing panel
Will my lawyer be raising enquiries concerning flooding as part of the conveyancing in Hanslope.
Flooding is a growing risk for solicitors carrying out conveyancing in Hanslope. Plenty of people will purchase a house in Hanslope, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be initiated by the buyer or by their solicitors which should figure out the risks in Hanslope. The standard property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to determine if the premises has suffered from flooding. If the property has been flooded in past which is not notified by the vendor, then a buyer could commence a compensation claim stemming from an inaccurate response. A buyer’s lawyers will also carry out an enviro report. This will indicate whether there is any known flood risk. If so, more detailed inquiries will need to be conducted.
Due to the encouragement of my in-laws I had a survey completed on a house in Hanslope before appointing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some banks may refuse to give a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hanslope. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hanslope to see if the conveyancing will be more expensive.
Should one remove a deceased person's details from the title register for a property in Hanslope?
If a Hanslope property is co-owned and one of the owners dies, their name will not immediately be removed from the Land Registry title. It is not necessary to amend the title as when it comes to a disposal you would just need to evidence why the joint owner is not a party to the transfer, typically this is in the form of the probate documents.
With the aim of making the sale conveyancing smoother in the future you may apply to have the deceased party erased from the title register by submitting an application to HM Land Registry with evidence of the death. There is no land registry fee payable.