The sellers of the home we are hoping to buy have appointed a conveyancing firm in Hartford who has suggested a lock out agreement with a non-refundable deposit 10k. Are such arrangements appropriate for Hartford conveyancing transactions?
This type of contract is not the norm in Hartford, conveyancers are not keen on them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the solicitor is left exposed. Furthermore, there is no certainty that just because the vendor has signed an exclusivity agreement they will sell to you. They may breach the contract if they receive a large enough incentive to do so because a wronged buyer with the benefit of a exclusivity agreement will still be obliged establish consequential losses from the breach and this may not equate the extra amount that your vendor may obtain by reneging on the agreement, however morally unworthy it undoubtedly is.
What does my ID and proof of funds have anything to do with my conveyancing in Hartford? What am I being asked for?
Hartford conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Confirmation of source of monies is also required under the money laundering laws as solicitors have a duty to investigate that the money you are using to acquire a property (be it the exchange deposit or the full purchase price if you are a cash purchaser) has originated from a reputable source (such as employment savings) as opposed to the product of illegitimate behaviour.
Me and my partner are buying a property in Hartford. It might be a silly question but how we can trust a conveyancer? At some point we have to deposit funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are plenty of conveyancing solicitors in Hartford but how do I know who's good?
We would encourage you not to base your choice on the lowest Hartford conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are purchasing a end of terrace house in Hartford. Our aim is to an extension at the rear at the property.Will the conveyancing process include checks to see if these alterations are permitted?
Your property lawyer should check the registered title as conveyancing in Hartford can sometimes reveal restrictions in the title deeds which prevent categories of alterations or need the consent of a 3rd party. Many extensions need local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
I am buying my first flat in Hartford with a loan from Birmingham Midshires. The developers refused to budge the price so I negotiated £7000 of additionals instead. The property agent suggested that I not to tell my conveyancer about the deal as it would adversely affect my mortgage with Birmingham Midshires. 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.
My brother has suggested that I appoint his conveyancing solicitors in Hartford. Should I find my own solicitor?
No doubt the best way to find a conveyancing practitioner is to have referrals from friends or relatives who have used the firm that you are are thinking of instructing.
What advice can you give us when it comes to finding a Hartford conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Hartford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Hartford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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Can they put you in touch with clients in Hartford who can give a testimonial? What are the legal fees for lease extension conveyancing?
I purchased a 1 bedroom flat in Hartford, conveyancing formalities finalised in 2000. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Hartford with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2103
With just 78 years left to run the likely cost is going to range between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.