The owners have rather pushy vendors who has insisted on a lock out contract with a deposit 10k. Are such agreements appropriate for Edgbaston conveyancing transactions?
Lock out contracts are agreements between a home vendor and purchaser granting the buyer exclusive rights to purchase the premises for a certain period of time. Essentially, a lock out is a document specifying that you will receive a contract at a later time which is the main conveyancing contract. It is generally used for buyer confidence though in many situations, the proprietor may enjoy an upside from such agreements as well. There are various pros and cons to having an agreement but you should to check with your solicitor but beware that it may end up costing you extra in conveyancing charges. In light of these reasons these agreements are unusual in relation to conveyancing in Edgbaston.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Edgbaston. Do I collect the keys to the property on the completion date from my solicitor? If so, I will use a High Street conveyancing solicitor in Edgbaston?
On the day of completion you do not need to attend the conveyancers office in Edgbaston. Your solicitors will arrange to send the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to collect the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
I had a mortgage agreed in principle with Lloyds. Edgbaston conveyancing lawyers have been selected. How long does it take for Lloyds to issue the offer to the lawyer?
Some lenders take longer than others. Have Lloyds done the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my lender requires a lease extension. I have telephoned my Edgbaston bank branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Edgbaston conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. I have no idea who is right.
The conveyancing practitioner has to comply with the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I used Stirling Law a few years past for my conveyancing in Edgbaston. Now, I need my files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Edgbaston of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking into buying my first house which is in Edgbaston and I am already nervous. I couldn't find anything specific about Edgbaston. Conveyancing will be needed in due course but do you know about the Edgbaston area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Edgbaston. In the meantime here are some basic statistics that we found
My partner has encouraged me to instruct his conveyancers in Edgbaston. Should I use them?
There are no two ways about it the best way to select a conveyancing practitioner is to get recommendations from friends or family who have experience in using the conveyancer that you are considering.