We have rather brash sellers who has suggested a preliminary agreement with a non-refundable deposit of 5k. Are such agreements sensible?
There are two primary drawbacks with executing a lock out agreement (also known as a shut-out contract) is that it diverts attention away from making progress with the conveyancing process, so in the absence of it needing little or no negotiation then it could turn out to be a hindrance. It is not strongly advocated amongst Cowley conveyancing solicitors for this reason. The other main concern is the extent of the remedies available - an aggrieved purchaser is not likely to obtain an injunctive ruling by a court to prevent the seller selling to an alternative purchaser, so the only remedy available under the contract will be the recovery of abortive costs and, in rare scenarios, the additional payment of damages.
We wanted to use a property lawyer in Cowley for our house move. Our broker informed us that our mortgage lenders won't deal with them. Why is this not regarded as unduly restrictive?
Banks in the main restrict either the type or the number of conveyancing practices on their member panel. Typical examples of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have decided to limit the number of solicitor practices they permit to act for them. Be aware that have no responsibility for the quality of advice provided by any member of Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are mixed views concerning the level of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that thousands of law firms, including some in or near Cowley only carry out a couple conveyances per annum.
My partner and I are intent on selling our house in Cowley and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Cowley conveyancer would know this is not the case. It does beg the question why the purchasers used an internet conveyancing firm rather than a conveyancing solicitor in Cowley. We have lived in Cowley for 5 years we know of no issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Just acquired a terraced house in Cowley , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Cowley conveyancing solicitor works at snail pace, so I want to check the registration is addressed.
As far as conveyancing in Cowley is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can vary according to the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today in the region of three quarters of submission are completed in less than three weeks but some can be subject to extensive delays. Historically registration is effected once the buyer is living at the property so post completion formalities is not always primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer can contact the land registry and explain the circumstances.
How does the Landlord & Tenant Act 1954 affect my commercial offices in Cowley and how can your lawyers assist?
The particular law that you refer to gives a safeguard to commercial tenants, giving them the a statutory right to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Cowley