We have very pushy sellers who has insisted on a preliminary agreement with a payment 10k. Are such contracts the norm for Conwy conveyancing transactions?
Lock out contracts are contracts between a home seller and purchaser granting the buyer the sole right to purchase the premises within an agreed time frame. Essentially, an exclusivity agreement is a contract specifying that you will have a contract at a later time which is the main conveyancing contract. It tends to be utilised for buyer protection though in some cases, the owner may stand to benefit from such agreements as well. There are various pros and cons to having them but you need to check with your conveyancer but beware that it may result in incurring more in conveyancing charges. In light of this these agreements are not popular when it comes to conveyancing in Conwy.
Will lawyers ask for money up-front for conveyancing in Conwy?
If you are buying a property in Conwy your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the purchase price then this should be asked for immediately prior to exchange of contracts. The closing balance that is needed should be sent to your lawyer a few days ahead of the day of completion.
We're in Conwy, First time buyers buying with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I have a 4 bedroom Edwardian house in Conwy. Conveyancing solicitor acted for me and TSB. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching property. Is it worth asking TSB to clarify?
You should assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Conwy and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing lawyer who completed the work.
I need to instruct a conveyancing solicitor in Conwy for my house move. Is it possible to check a firm’s complaints history with the legal regulator?
One can read published Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The SRA may recorded telephone calls for training purposes.