The vendors of the house we are purchasing have instructed a conveyancing solicitor in Northumberland who has recommended a preliminary agreement with a deposit 10k. Is it wise to enter into such agreements?
There are a couple of primary downsides with entering into any lock out agreement (sometimes known as an exclusivity agreement) is that it can distract from progressing with the conveyancing transaction itself, so unless it requires limited or no negotiation then it could turn out to be unhelpful. It is not promoted by Northumberland conveyancing lawyers for this reason. A further negative is the extent of the remedies available - a jilted purchaser should not expect to be issued with an injunctive ruling by a court to bar the seller selling to a third party, so the only remedy open via the contract will be the reimbursement of abortive costs and, in rare situations, the extra payment of damages.
We are looking to buy a house and need a conveyancing solicitor in Northumberland who is on the UBS solicitor panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for UBS . We don't recommend any particular firms conducting conveyancing in Northumberland.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when purchasing a residence in Northumberland?
Unless a previous acquisition of the property took place post 12 October 2013 you can take it that conveyancing practitioners handling conveyancing in Northumberland to continue to suggest a chancel search and or insurance against a claim.
Due to the input of my in-laws I had a survey completed on a house in Northumberland in advance of instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some lenders tend refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Northumberland. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Northumberland to see if the conveyancing costs will increase in light of this.
I am using a search engine for the words on line conveyancing in Northumberland it brings up many property lawyersin the vicinity. How do I determine which is the right property lawyer for purchase transaction?
The best way of choosing the right conveyancer is via personal recommendation, so seek the guidance of colleagues and those you trust who have bought a property in Northumberland or a reputable estate agent or financial adviser. Costs for conveyancing in Northumberland differ, so it's advisable to request at least four estimates from varying types of conveyancers. Be sure to obtain confirmation that the costs are guaranteed not to escalate.
Finally our conveyancing in Northumberland completes on Friday, but the owners I am buying off has asked to move out 24 hours later at noon. Do I accept such a plan?
In situations where you need a bank loan then your conveyancer will demand that you have vacant possession on Friday - the mortgage company will demand it.