The vendors of the house we are purchasing hired a conveyancing firm in Llandysul who has recommended a lock out contract with a non-refundable deposit 6,000. Are such agreements sensible?
There are a couple of primary downsides with entering into any lock out agreement (occasionally referred to as a shut-out contract) is that it takes away the focus from making progress with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it may turn out to be unhelpful. It is not promoted by Llandysul conveyancing lawyers as a result. A further issue is the extent of the remedies available - an aggrieved buyer should not expect to secure an injunction to stop the vendor selling to another buyer, so the only remedy available under the agreement will be the reimbursement of wasted charges and, in restricted scenarios, the extra payment of damages.
I am refinancing my apartment in Llandysul, does my lawyer have to be on the Aldermore Conveyancing panel?
In theory, you could use a solicitor that is not on the Aldermore conveyancing panel, but Aldermore would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Yesterday I discovered 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, chain free conveyancing. Llandysul is the location of the property. Can you shed any light on this issue?
Flying freeholds in Llandysul are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Llandysul you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llandysul 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 residence.
I have been recommended by two or three local property agents in Llandysul to select a property lawyer using your seach tool. What’s the financial upside for Estate Agents to promote your lawyers over another?
We refuse to make any commission for directing people to this site. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are first time buyers - agreed a price, yet the agent informed us that the vendor will only move forward if we use the agent's chosen solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Llandysul
It is unlikely the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to appoint your preferred Llandysul conveyancing solicitors - not the ones that will provide their estate agent a introducer fee or achieve conveyancing figures pre-set by corporate headquarters.