The owners have very pushy vendors who has suggested a exclusivity contract with a down payment of 5k. Is it wise to enter into such agreements?
This form of arrangement isn't common in Litherland, conveyancers are often found to direct clients away from them as they detract from focusing on the primary objective, namely conveyancing and if you end up having your deposit forfeited then the solicitor is left exposed. In addition, there is no assurance that just because the seller has entered into an exclusivity contract they will sell to you. They may be in contravention of the agreement if they are offered a big enough incentive to do so because an aggrieved buyer with the benefit of a exclusivity agreement will still have to establish consequential losses from the breach and this may not equalise the financial benefit that your vendor may secure by breaking the agreement, however morally reprehensible the behaviour is.
My husband and I are hoping to buy a newbuild flat in Litherland with a homeloan from Chelsea Building Society.We like our Litherland conveyancing lawyer but Chelsea Building Society says she’s not on their approved list of firms. It seems we are left with little choice but to instruct a Chelsea Building Society panel solicitor or retain our local solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Chelsea Building Society use our lawyer?
No, not really. The home loan offered to you is subject to its various provisions, one of which will be that conveyancers must be on the Chelsea Building Society approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Chelsea Building Society
What does a local search tell me concerning the house my wife and I purchasing in Litherland?
Litherland conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays an important role in many a Litherland conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
Are there restrictive covenants that are commonly identified as part of conveyancing in Litherland?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Litherland. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Litherland differ for new build properties?
Most buyers of new build residence in Litherland come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Litherland usually 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 conveyancing solicitors 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 accustomed to new build conveyancing in Litherland or who has acted in the same development.
My husband and I are 14 days into a residential purchase having been recommend to solicitors by the estate agent to perform conveyancing in Litherland. I am not happy. Could you you assist me in finding new conveyancers?
They would need to be really bad in order to consider replacing them. Has your mortgage been issued? In the event that it has you must inform them of the new contact details and get the offer are re-sent. The conveyancer should be on the lenders approved list to avoid escalating fees and complications. So that should be your first question of the new solicitors. The search tool will assist you in finding a lender approved solicitor for your home move in Litherland