The owners of the property we are hoping to buy have instructed a conveyancing practitioner in Locks Heath who has insisted on a preliminary contract with a payment of 5k. Are such agreements sensible?
This kind of arrangement is unusual in Locks Heath, conveyancers will often sway clients away from them as they detract from focusing on the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. Furthermore, there is no assurance that just because the vendor has executed an exclusivity contract they will sell to you. They may be in contravention of the agreement if they receive a large enough financial inducement to do so because an aggrieved party with the benefit of a exclusivitycontract will still be obliged show losses as a consequence of the breach and these may not equate the financial benefit that your seller may gain by breaking the contract, however morally condemnable that may be.
What does my ID and proof of funds have anything to do with my conveyancing in Locks Heath? What am I being asked for?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Locks Heath. Nowadays you will not be able to proceed with any conveyancing transaction in the absence handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a council tax bill. Remember if you are providing your driving licence as proof of ID it needs to be both the paper part and photo card part, one is not acceptable in the absence of the other.
Proof of your origin of money is necessary under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor will need to have this information on file. Your Locks Heath conveyancing solicitor will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they should also ask additional questions regarding the source of monies.
When looking at mumsnet.com for a recommended lawyer in Locks Heath, many advise that I must use a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's biggest mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Council of Licensed Conveyancing. Locks Heath is one of the numerous areas of the UK where there are CQS solicitors.
My bid for a property was accepted at auction in Locks Heath. Conveyancing is needed. What happens now?
Now that you are legally committed yourself to purchase you should retain a conveyancing lawyer as a matter of priority as you are facing a tight a drop dead date to complete the purchase. An auction property will ordinarily have a corresponding auction set of papers. This should include evidence of title and search results. Where you are dealing with leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must give this to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding in place to complete on the date specified in the contract.
My stepmother advised me that in purchasing a property in Locks Heath there may be a number of restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Locks Heath which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Locks Heath should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am currently in the process of buying my council flat in Locks Heath. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Locks Heath?
Many commercial conveyancing solicitors in Locks Heath will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Locks Heath. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Locks Heath.
For each commercial conveyancing transaction in Locks Heath it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Locks Heath commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Locks Heath.