The vendors of the property we are hoping to buy hired a conveyancing practitioner in Whitchurch who has suggested a lock out agreement with a deposit of 5k. Are such agreements sensible?
This type of contract is not the norm in Whitchurch, conveyancers are not keen on them as they divert attention from the primary objective, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. Secondly, there is no guarantee that just because the seller has signed an exclusivity contract they will sell to you. They may be in contravention of the contract if they receive a large enough offer to do so because a wronged buyer with the benefit of a lockout agreement will still be obliged show losses as a consequence of the breach and these may not amount to the extra amount that your seller may obtain by reneging on the contract, however morally reprehensible the behaviour is.
My bid for a property was accepted at auction in Whitchurch. Conveyancing is required. What is next?
Having to all intents and purposes signed on the dotted line you will need to find a conveyancing solicitor as a matter of priority as you now have a pending a drop dead date to complete the deal. An auction property should have a corresponding auction set of papers. This should include evidence of title and search results. If you have purchased leasehold premises the legal pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You need to hand this to the conveyancer working for you as soon as possible. Do make sure that you have funds organised to complete on the date specified in the contract.
I am being told by my lawyer that chancel insurance is necessary on my purchase. What is the level of cover for Whitchurch conveyancing?
The right level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I am currently in the process of buying my council flat in Whitchurch. I have a mortgage offer with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
My relative recommended that if I am purchasing in Whitchurch I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Whitchurch conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Whitchurch around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Whitchurch Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Whitchurch Education with plans and statistics, Local Amenities and other useful data concerning Whitchurch.
4 months have gone by following my purchase conveyancing in Whitchurch concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Whitchurch differ for newly converted properties?
Most buyers of new build premises in Whitchurch come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Whitchurch 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 Whitchurch or who has acted in the same development.
I was advised by numerous property agents in Whitchurch to locate a solicitor on your site. Is there a financial advantage for Estate Agents to recommend your lawyers over alternative conveyancing organisations?
We refuse to give any financial incentive for directing people in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.