The owners of the home we are looking to purchase have instructed a conveyancing firm in Copse Hill who has recommended a preliminary contract with a down payment two thousand pounds. Are such agreements sensible?
Exclusivity agreements are agreements binding a home owner and prospective acquirer granting the buyer the sole right to the sale of the property within a prescribed time frame. For all intents and purposes, an exclusivity is a document specifying that you will be issued with a contract at a later date being the contract for the actual sale. It is generally utilised for buyer assurance though in some cases, the vendor may stand to benefit from such agreements as well. There are many positives and negatives to using an agreement but you should to check with your lawyer but note that it may result in incurring more in conveyancing fees. In light of this these contracts are avoided in relation to conveyancing in Copse Hill.
Is there a reason why leasehold purchase conveyancing in Copse Hill is more expensive?
Copse Hill leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Copse Hill is where the house is located. Can you offer any assistance?
Flying freeholds in Copse Hill are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Copse Hill you must be sure that your lawyer goes 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 Copse Hill 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 property.
My brother has urged me to use his conveyancing solicitors in Copse Hill. Should I use them?
No doubt the ideal way to find a conveyancing solicitor is to get feedback from friends or family who have used the conveyancer that you are contemplating using.
Why can't I complete our conveyancing in Copse Hill on Easter Monday?
Because on completion the sale price needs to be transferred electronically between the banks of the buyer and seller's conveyancer and at present this can only occur on a business day. It is not possible to complete on a saturday or sunday either.