The owners of the home we are purchasing are using a conveyancing solicitor in Bideford who has recommended a exclusivity agreement with a payment of 5k. Are such agreements sensible?
This form of agreement is not the norm in Bideford, conveyancers are not keen on them as they detract from the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. In addition, there is no guarantee that just because the vendor has entered into an exclusivity contract they will complete the sale with you. They may breach the contract if they are offered a big enough offer to do so because an aggrieved buyer with the benefit of a lockoutcontract will still have to show losses as a consequence of the breach and this may not equate the extra amount that your vendor may gain by breaking the contract, however morally unworthy the behaviour is.
As someone not used to the Bideford conveyancing process what’s your top tip you can give me concerning the legal transfer of property in Bideford
Not many law firms shout this from the rooftops but conveyancing in Bideford or throughout England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there is an abundance of opportunity for conflict between you and others involved in the ownership transfer. For instance, the vendor, property agent and even potentially the mortgage company. Appointing a lawyer for your conveyancing in Bideford should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the transaction whose interest is to look after your best interests and to protect you.
We are witnessing a worrying increase in the "blame" culture- someone has to be at fault for the process taking so long. We recommend that you your first instinct should be to trust your solicitor above all other parties in the conveyancing process.
I have been advised by a number of estate agents in Bideford to find a property lawyer on your site. Is there a financial inducement for Estate Agents to recommend your lawyers ahead of another?
We refuse to make any referral fee for directing people our way. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are first time buyers - agreed a price, but the property agent advised that the seller will only move forward if we appoint their recommended lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Bideford
It is improbable the sellers are behind this. Should the owner desire ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Try to communicate with the vendors directly and make the point that (a)you are genuine buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you will continue to use your preferred Bideford conveyancing lawyers - rather thanthose that will give the estate agent a introducer fee or meet his conveyancing figures pre-set by senior management.
I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Bideford. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Bideford ?
The majority of houses in Bideford are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Bideford so you should seriously consider looking for a Bideford conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
Bideford Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
How is the lease structured? The best form of lease structure is a share of the freehold. In this scenario the leaseholders benefit from being in charge if their destiny and even though a managing agent is usually employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. This question is useful as a) areas could cause problems for the block as the common areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have a dispute with the managing agents you will need to know about it