Our family lawyer has quoted £1700 for fixed fee conveyancing in Chathill. I’m hoping to sell a purpose built house for £250,000. Are the quoted fees excessive? Is it above the norm for conveyancing in Chathill?
The charges are a bit high. If you shop around you might get the conveyancing a bit cheaper by perhaps a hundred pounds. That being said, you mightcome to rue choosing an an unknown conveyancer. Remember to be sure that the firm can act for your bank. Do employ our search tool to locate a Chathill conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Chathill.
The owners have very brash vendors who has insisted on a exclusivity contract with a non-refundable deposit of 5k. Are such contracts generally advanced for Chathill conveyancing transactions?
This kind of agreement is unusual in Chathill, conveyancers will often sway clients away from them as they divert attention 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. In addition, there is no assurance that just because the owner has executed an exclusivity contract they will complete the sale with you. They may be motivated to break the agreement if they are offered a big enough financial inducement to do so because an aggrieved claimant with the benefit of a lockoutcontract will still have to establish consequential losses from the breach and these may not equalise the extra amount that the owner may secure by breaching the agreement, no matter how morally condemnable it undoubtedly is.
What does my ID and proof of funds have anything to do with my conveyancing in Chathill? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Chathill. However these days you will not be able to complete any conveyancing deal without first submitting evidence of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Remember if you are supplying your driving licence as evidence of identification it needs to be both the paper section and photo card part, one is not satisfactory in the absence of the other.
Evidence of the source of money is mandated in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor must retain this information on file. Your Chathill conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they should also ask further queries concerning the origin of funds.
My friend advised me that if I am purchasing in Chathill I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Chathill conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Chathill around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Chathill.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Chathill I like with a park and railway links in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Chathill for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.