The vendors of the property we are looking to purchase have appointed a conveyancing practitioner in Bishops Castle who has suggested a lock out agreement with a down payment of 5k. Are such arrangements recommended for Bishops Castle conveyancing transactions?
Exclusivity agreements are contracts binding a property owner and prospective buyer giving the buyer exclusive rights to purchase the property within an agreed time frame. For all intents and purposes, an exclusivity is a document specifying that you should have a contract at a later date which is the main conveyancing contract. It is generally utilised for buyer assurance though in many situations, the vendor may stand to benefit from such agreements as well. There are many pros and cons to using them but you should to check with your conveyancer but beware that it may end up incurring more in conveyancing charges. For this these agreements are not popular in relation to conveyancing in Bishops Castle.
Are the Bishops Castle conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Bishops Castle conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
What can a local search reveal about the property I am purchasing in Bishops Castle?
Bishops Castle conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance Searchflow The local search is essential in every Bishops Castle conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I have a semi-detached Georgian property in Bishops Castle. Conveyancing solicitor acted for me and Britannia. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bishops Castle and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who conducted the conveyancing.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Bishops Castle is where the house is located. Is there any advice you can impart?
Flying freeholds in Bishops Castle are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bishops Castle you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bishops Castle may determine 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 premises.