The sellers of the home we are looking to purchase hired a conveyancing firm in Fairford who has recommended a exclusivity contract with a non-refundable deposit of 5k. Is it wise to enter into such agreements?
This kind of arrangement is unusual in Fairford, conveyancers are often found to veer clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Secondly, there is no guarantee that just because the seller has signed an exclusivity contract they will sell to you. They may breach the agreement if they receive a large enough incentive to do so because an aggrieved buyer with the benefit of a exclusivitycontract will still be obliged show losses as a consequence of the breach and this may not equate the extra amount that the owner may secure by breaching the agreement, however morally reprehensible it undoubtedly is.
Why is leasehold purchase conveyancing in Fairford costs more?
The conveyancing charges on a leasehold property in Fairford is often more expensive as compared to a freehold transaction. This is due to the additional work necessary in communicating with the landlord and management company to collate the evidence about whether the rent and maintenance charges have been paid and whether there are any major works due in the near future on repairs or maintenance of the block.
We're in Fairford, FTBs purchasing 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 conveyancer 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.
I am 17 days into a leasehold purchase having been directed to a firm by the high street agent to perform conveyancing in Fairford. I am am extremely dissatisfied with the level of service. Could you you assist me in finding new solicitors?
A conveyancer would have to be really bad in order to consider diss instructing them. Has the mortgage offer been generated? If so you will need to advise them of the new solicitor and ensure the loan are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid escalating charges and frustration. That should be your first question of the new conveyancers. The search tool can help you find a lender approved conveyancer for your home move in Fairford
Why is New Build conveyancing in Fairford more costly?
Acquiring a new build home is significantly different from the standard house purchase conveyancing in Fairford. For a start sellers usually insist contracts to exchange inside a short timeframe, the result being a a great deal of pressure on your solicitor to make sure everything is in order. In addition new build properties often necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage lender requirements are also more detailed. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.