The vendors of the house we are hoping to buy are using a conveyancing practitioner in Nether Edge who has suggested a preliminary contract with a payment 10k. Are such agreements generally advanced for Nether Edge conveyancing transactions?
This type of arrangement is unusual in Nether Edge, conveyancers will often 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 lawyer is left exposed. In addition, there is no assurance that just because the owner has signed a lock out contract they will sell to you. They may be tempted to break the agreement if they are offered a large enough incentive to do so because an aggrieved buyer with the benefit of a exclusivitycontract will still have to establish consequential losses from the breach and these may not amount to the financial benefit that the owner may gain by breaking the agreement, however morally shameful the behaviour is.
In what way does my ID and proof of funds have anything to do with my conveyancing in Nether Edge? Why is this being asked of me?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Nether Edge. Nowadays you will not be able to proceed with any conveyancing transaction in the absence submitting evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are supplying your driving licence as evidence of identification it must be both the paper element and photo card part, one is not sufficient in the absence of the other.
Evidence of the source of money is required under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancer will need to retain this information on record. Your Nether Edge conveyancing solicitor will require evidence of proof of funds prior to accepting any monies from you into their client account and they should also ask additional questions regarding the origin of funds.
We are selling our house in Nether Edge. Will the conveyancing practitioner need to be required to be on the RBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the RBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
I have been told that property searches are the primary reason for obstruction in Nether Edge house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Nether Edge.
I am on look out for some leasehold conveyancing in Nether Edge. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Nether Edge - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Nether Edge Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
-
What is the annual service fee and ground rent? How many of the leaseholders are in arrears for their service charge payments? It is important to be aware if a new roof is being put on or some other significant cost is due in the foreseeable future to be shared amongst the leaseholders and will materially increase the the maintenance fees or necessitate a one time payment.
A licensed conveyancer acted on my conveyancing in Nether Edge half a dozen years ago and was holding my title documents but has now closed – how do I get hold of these?
Title deeds, as such, no longer exist as the majority of homes in Nether Edge are recorded digitally at Land Registry. If you need to establish evidence of proprietorship or are selling or re-mortgaging your property lawyer can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.