We have very assertive sellers who has recommended a exclusivity contract with a deposit two thousand pounds. Are such agreements sensible?
There are a couple of main downsides with executing a lock out agreement (sometimes known as a no-shop agreement) is that it takes away the focus from progressing with the conveyancing process, so in the absence of it needing little or no negotiation then it could turn out to be a hindrance. It is not strongly advocated by London conveyancing solicitors for this reason. A supplemental issue is the extent of the remedies available - an aggrieved purchaser should not expect to win injunctive relief to prevent the seller completing the sale to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of wasted charges and, in restricted situations, the additional payment of damages.
Will our lawyer be asking questions regarding flooding as part of the conveyancing in London.
Flooding is a growing risk for conveyancers conducting conveyancing in London. Plenty of people will purchase a property in London, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their lawyers which should give them a better understanding of the risks in London. The conventional set of completed inquiry forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover if the premises has ever been flooded. If the premises has been flooded in past which is not revealed by the vendor, then a purchaser may bring a compensation claim stemming from an incorrect response. The buyer’s solicitors should also order an environmental report. This will reveal if there is a recorded flood risk. If so, further inquiries should be conducted.
The deeds to my property can not be found. The lawyers who did the conveyancing in London 4 years ago are no longer around. What do I do?
Gone are the days when you need to hold title official documentation to establish that you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
I need to retain a conveyancing solicitor for freehold conveyancing in London. I have chance upon a web site which looks to be the ideal answer If it is possible to get all this stuff done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have been told by various estate agents to expect 6-8 weeks for London conveyancing to complete.This was four weeks ago. The property information was only received from the vendors conveyancer yesterday so does the clock start running now?
There is no conventional countdown for conveyancing in London, or any area in the UK. You simply have to make sure your finances are in order and wait for the rest to come together.