The owners have rather brash sellers who has insisted on a exclusivity contract with a payment of 5k. Are such agreements sensible?
This form of arrangement isn't common in Dunstable, conveyancers are often inclined to veer clients away from them as they detract from focusing on the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. Secondly, there is no guarantee that just because the owner has executed a lock out agreement they will complete the sale with you. They may be in contravention of the contract if they receive a large enough offer to do so because a wronged party with the benefit of a lockout agreement will still be obliged establish consequential losses from the breach and these may not compare to the financial upside that your seller may secure by reneging on the agreement, no matter how morally unworthy it undoubtedly is.
I am purchasing a new build flat in Dunstable. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Dunstable you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Dunstable.
It has been three months following my purchase conveyancing in Dunstable completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Dunstable with the aid of help to buy. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my solicitor about this side-deal as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My husband and I are 17 days into a residential purchase having been directed to conveyancers by the estate agent to carry out the conveyancing in Dunstable. I am am starting to be disappointed with the level of service. Could you help me find new conveyancers?
They would have to be very poor in order to consider changing them. Has your mortgage been issued? If so you must advise them of the new contact details and ensure the loan are re-issued. The conveyancer needs to be on the lenders panel to avoid escalating fees and complications. So that should be your starting point. Our search tool can assist you in finding a lender approved lawyer for your home move in Dunstable