The sellers of the property we are looking to purchase hired a conveyancing practitioner in Ulverston who has recommended a lock out contract with a non-refundable deposit 10k. Is it wise to enter into such agreements?
Lock out agreements are contracts between a home owner and prospective acquirer giving the buyer a ‘clear field’ to the sale of the premises for a limited period of time. For all intents and purposes, an exclusivity is a document specifying that you should be issued with a contract at a later time being the main conveyancing contract. It is generally used for buyer assurance though in many situations, the seller may enjoy an upside from such agreements as well. There are many positives and negatives to having an agreement but you should to check with your lawyer but beware that it may result in costing you extra in conveyancing charges. In light of these reasons these contracts are unusual in relation to conveyancing in Ulverston.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ulverston? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms and Conditions that you are required to sign should stipulate this. Your lender will also require certain documents to be checked. If you are unwilling to supply identification documents, your solicitor would not be able to act for you.
We are planning to buy with Norwich and Peterborough Building Society. We have called around locally but am unable to find a Ulverston conveyancing firm on the Norwich and Peterborough Building Society approved list. Can you help?
You should take advantage of the search tool on this page. Please choose the mortgage company and type Ulverston or your location and you will discover a number of lawyer offices in Ulverston or near you.
Should our lawyer be asking questions regarding flooding during the conveyancing in Ulverston.
Flooding is a growing risk for lawyers dealing with homes in Ulverston. Some people will buy a property in Ulverston, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Ulverston. The conventional set of completed inquiry forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer could commence a legal claim for losses resulting from an incorrect reply. The buyer’s lawyers should also conduct an environmental report. This will disclose whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
Just had an offer accepted on a new build flat in Ulverston. Conveyancing is a frightening process 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 are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Ulverston
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared. Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
How easy is it to change a solicitor as I need to find a Ulverston based firm who is on the lender conveyancing panel. Is it practical to instruct different lawyers?
In the event that you have not formally instructed a conveyancer to do anything for you and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Ulverston that you're thinking of instructing.