The owners have rather brash sellers who has recommended a exclusivity contract with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
There are two main drawbacks with signing a lock out agreement (occasionally termed an exclusivity agreement) is that it diverts attention away from moving forward with the conveyancing work, so in the absence of it needing minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not particularly popular by Montgomery conveyancing lawyers for this reason. A supplemental negative is the extent of the remedies available - a jilted purchaser is very unlikely to be issued with injunctive relief to stop the vendor completing the sale to a third party, so the only remedy available under the contract will be the recovery of abortive costs and, in limited situations, the extra payment of damages.
We are purchasing a house and require a conveyancing solicitor in Montgomery who is on the Barclays solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Montgomery.
I am helping my aunt sell her property in Montgomery. Will the conveyancer order the energy assessment or it is for the owner to see to?
After the abolition of HIPs, EPC’s remained a required element of moving property. An EPC needs to be commissioned before the property is put on the market. It is not something that law firms normally organise. If you are using a Montgomery conveyancing solicitor they might be willing to arrange EPC’s given their contacts with reputable Montgomery providers
I'm the only recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Montgomery. The Montgomery property was put into my name in September. I want to move. I do know about the CML 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the property in September. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. many lenders would take a pragmatic view as this obligation primarily exists to identify subsales or the flipping of properties.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Montgomery bank branch on numerous occasions and was told they are content with the situation and they will lend. My Montgomery conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their specific requirements. I have no idea who is right.
The solicitor must follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Various online forums that I have visited warn that are the primary reason for stalling in Montgomery conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Montgomery.
Is there anything unique about your site and alternative internet conveyancing solicitors for conveyancing in Montgomery?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Montgomery. As opposed to estate agents and brokerage sites we do not have kick-back deals with solicitors. A large number of agents and online brokers 'recommend' the firm who pay the most kickback, rather than the best value conveyancing in Montgomery
My work colleague mentioned that before selecting a conveyancing solicitors they must be approved by your lender. I am new to the process but I have an offer in principle with HSBC and I already have a bricks and morter conveyancing lawyer in Montgomery in place. Can Birmingham Midhshires insist on an approved conveyancer to be selected? Does a directory of approved firms even exist for my conveyancing in Montgomery?
You need to choose a solicitor that is on the Birmingham Midhshires panel. The simplest thing to do is ring your preferred Montgomery conveyancing solicitor to check if they are on the Birmingham Midhshires panel. If they are not on the panel you have a couple of alternatives open to you here:
- Proceed with your preferred Montgomery lawyer but Birmingham Midhshires will no doubt retain a lawyer on their conveyancing panel. This will result in additional charges together with potential delay.
- Get a new conveyancing practitioner to conduct the conveyancing, obviously checking they are on the Birmingham Midhshires conveyancing panel.
- Appeal to your conveyancer to apply to join the lender panel.