The sellers of the property we are purchasing hired a conveyancing solicitor in Theale who has suggested a lock out agreement with a deposit 6,000. Are such agreements sensible?
This form of agreement isn't frequently used in Theale, conveyancers are not keen on them as they detract from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the proprietor has executed an exclusivity agreement they will complete the sale with you. They may be in contravention of the agreement if they receive a large enough offer to do so because a wronged purchaser with the benefit of a exclusivity agreement will still be duty bound to show losses as a consequence of the breach and this may not amount to the financial benefit that your seller may secure by breaking the agreement, no matter how morally shameful it undoubtedly is.
We are planning to purchase with Loughborough BS. I dropped in 3 or 4 high street firms but cant to find a Theale conveyancing firm on the Loughborough BS approved list. Please you assist?
Feel free to make use of the search tool on this web page. Pick the mortgage company and type Theale or your location and you will be presented with numerous conveyancers located in Theale or nearest you.
I am close to exchanging contracts on the sale of our home in Theale and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using an internet conveyancing outfit as opposed to a conveyancing solicitor in Theale. We have lived in Theale for three years we know that this is a non issue. Should we contact our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
How does conveyancing in Theale differ for new build properties?
Most buyers of new build residence in Theale contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Theale tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Theale or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Theale is where the house is located. Is there any guidance you can give?
Flying freeholds in Theale are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Theale you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Theale may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We're novice buyers - had an offer accepted, but the selling agent told us that the vendor will only issue a contract if we use the agent's chosen lawyers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is familiar with conveyancing in Theale
We suspect that the seller is not behind this ultimatum. Should the owner want ‘a quick sale', alienating a motivated buyer is not the way to achieve this. Avoid the agents and go straight to the sellers and make sure they understand (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you intend to use your own,trusted Theale conveyancing solicitors - as opposed tothose that will give their estate agent a kickback or meet his conveyancing targets pre-set by senior management.