We have rather assertive vendors who has recommended a lock out agreement with a down payment of 5k. Are such arrangements the norm for Otford conveyancing transactions?
There are a couple of main downsides with signing a lock out agreement (sometimes known as a shut-out contract) is that it takes away the focus from progressing with the conveyancing work, so unless it requires limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not particularly popular by Otford conveyancing practitioners for this reason. A supplemental concern is the extent of the remedies available - an aggrieved buyer is not likely to be issued with an injunction to prevent the seller completing the sale to an alternative purchaser, so the only remedy available under the contract will be the recovery of abortive costs and, in restricted scenarios, the extra payment of penalties.
After reading moneysavingexpert.com for a cheap lawyer in Otford, many comment that I should instruct a CQS assured lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's major banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Otford is one of the many areas of the UK where there are Accredited lawyers.
What can a local search reveal regarding the house my wife and I purchasing in Otford?
Otford conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Onsearch The local search is essential in every Otford conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search should reveal data on, amongst other things, details on planning applications applicable 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 13 topic sections.
Are there restrictive covenants that are commonly picked up during conveyancing in Otford?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Otford. 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…’
We're novice buyers - had an offer accepted, but the selling agent advised that the seller will only proceed if we use the agent's preferred lawyers as they want a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in Otford
We suspect that the seller is unaware of this ultimatum. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Contact the sellers directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your own,trusted Otford conveyancing lawyers - rather thanthose that will give the negotiator at the agency a kickback or achieve conveyancing thresholds pre-set by senior management.
Is it the case that all Otford solicitors on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local bank branch in Otford. Chances are that they will know some good conveyancing solicitors in Otford