The vendors of the house we are looking to purchase have appointed a conveyancing firm in Swaffham who has recommended a preliminary contract with a down payment two thousand pounds. Are such agreements generally advanced for Swaffham conveyancing transactions?
There are two main concerns with entering into any lock out agreement (occasionally termed a no-shop agreement) is that it takes away the focus from progressing with the conveyancing process, so in the absence of it needing limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not strongly advocated by Swaffham conveyancing lawyers as a result. A further concern is the extent of the remedies available - a jilted buyer is not likely to secure an injunction to prevent the vendor selling to another buyer, so the only remedy available under the contract will be the reimbursement of abortive charges and, in restricted situations, the additional payment of penalties.
As someone unfamiliar with the Swaffham conveyancing process what’s the number one tip you can give me concerning the house moving process in Swaffham
You may not hear this from too many lawyers but conveyancing in Swaffham or throughout Norfolk is an adversarial experience. In other words, when it comes to conveyancing there is plenty of room for confrontation between you and others involved in the home moving process. For instance, the seller, estate agent and on occasion the bank. Appointing a solicitor for your conveyancing in Swaffham should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the process whose role it is to act in your best interests and to protect you.
Sometimes a potential adversary may try and sway you that you should follow their advice. For example, the property agent may claim to be helping by suggesting your lawyer is wrong. Or your financial adviser may tell you to do take action that is against your lawyers recommendation. You should always trust your lawyer above all other parties in the conveyancing process.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would prefer to appoint a local conveyancing solicitor in Swaffham?
Do check but the the probability is that appoint one of their panel solicitors should you want the "fee-free" offer. Speak to the mortgage company and check if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Swaffham.
I have a renovated Georgian house in Swaffham. Conveyancing practitioner acted for me and Clydesdale. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Swaffham and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing practitioner who conducted the purchase.
I am buying a new build house in Swaffham with a mortgage from Chelsea Building Society. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not inform my solicitor about this deal as it may jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My estate agent has recommended their conveyancer for our conveyancing in Swaffham - Surely it’s advisable to just instruct them?
You need to establish if the estate agent is recommending a solicitor or introducing to a conveyancing practitioner. There are plenty of Swaffham selling agents who recommend two or three Swaffham conveyancing firms and get nothing from it.