The owners have very brash vendors who has recommended a lock out contract with a down payment 6,000. Are such agreements sensible?
Exclusivity agreements are agreements between a home vendor and prospective acquirer granting the buyer exclusive rights to the sale of the premises for a certain period of time. Essentially, a lock out agreement is a contract stating that you will receive a contract at a later time being the contract for the actual sale. It is generally used for buyer assurance though in some cases, the owner may enjoy an upside from such agreements as well. There are many positives and negatives to having them but you need to check with your lawyer but beware that it may end up incurring extra in conveyancing charges. In light of this these contracts are not popular in relation to conveyancing in Norbury.
We're in Norbury, First timers purchasing with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What is your number one tip for finding a conveyancing solicitor in Norbury
Do not opt for the cheapest Norbury conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. 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 know exactly what you’ll have to pay in ahead of the deal.
Is it the case that all Norbury solicitor firms on the HSBC conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the HSBC approved list of solicitors they would need to be regulated by the SRA. Many mortgage companies do list licenced conveyancers on their panel and in such a situation the practice would be overseen by the Council of Licensed Conveyancers.
Planning on purchasing a apartment in Norbury. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Norbury conveyancing practitioner is on the TSB conveyancing panel.
Is it necessary to pay for insurance to address the risk of chancel repairs when acquiring a property in Norbury?
Unless a previous acquisition of the premises took place post 12 October 2013 you may expect conveyancing practitioners handling conveyancing in Norbury to continue to recommend a chancel search and or insurance against a claim.
I completed on my flat on 13 November and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Norbury expressed confidence that it will be recorded in a couple of weeks. Are properties in Norbury particularly slow to register?
As far as conveyancing in Norbury is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and whether the Land registry must send notices to any other persons or bodies. Currently in the region of three quarters of submission are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Registration takes place after the new owner is living at the premises so post completion formalities is not typically an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can contact the land registry and explain the circumstances.
About to purchase a new build flat in Norbury. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Norbury
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.