The owners of the home we are hoping to buy are using a conveyancing practitioner in Hornsey who has insisted on a exclusivity contract with a payment two thousand pounds. Are such agreements sensible?
There are two primary downsides with signing a lock out agreement (sometimes known as an exclusivity agreement) is that it can distract from progressing with the conveyancing work, so unless it requires limited or no negotiation then it may transpire to be a hindrance. It is not strongly advocated amongst Hornsey conveyancing lawyers as a result. A further concern is the extent of the remedies available - a jilted purchaser is not likely to obtain injunctive relief to stop the seller disposing of the property to another buyer, so the only remedy available under the contract will be the reimbursement of wasted charges and, in limited scenarios, the extra payment of penalties.
Do lawyers request money up-front for conveyancing in Hornsey?
If you are buying a property in Hornsey your solicitor will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the sale price then this will be needed immediately in advance of exchange of contracts. The final balance that is due should be transferred shortly before completion.
five months have gone by following my purchase conveyancing in Hornsey concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How easy is it to change solicitor as I have to appoint a firm on the Lloyds TSB Bank conveyancing list. I hired a local conveyancing solicitor in Hornsey five minutes from me but the firm is not approved by Lloyds TSB Bank
It would be our pleasure to help you select a conveyancing solicitor in Hornsey on the Lloyds TSB Bank panel. Please note that the property lawyers that we list do not pay us fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Hornsey. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Hornsey.
We're FTB’s - agreed a price, but the agent told us that the vendor will only issue a contract if we instruct their chosen solicitors as they want a ‘quick sale’. We would rather use a local solicitor used to conveyancing in Hornsey
It is unlikely the vendors are behind this. Should the seller desire ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your preferred Hornsey conveyancing lawyers - not the ones that will provide the negotiator at the agency a commission or hit his conveyancing targets demanded by corporate headquarters.
I dont have enough spare money to pay a 10% deposit on my apartment purchase in Hornsey , but I still want to go ahead. What can I do?
One option is to try and accept a lower deposit. Most property owners will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second