The owners have very assertive sellers who has suggested a lock out contract with a non-refundable deposit of 5k. Are such agreements sensible?
There are two main drawbacks with entering into any lock out agreement (also referred to as a shut-out contract) is that it diverts attention away from making progress with the conveyancing work, so unless it requires limited or no negotiation then it could transpire to be unhelpful. It is not promoted amongst Pontcanna conveyancing practitioners as a result. The other main concern is the extent of the remedies available - a jilted purchaser is not likely to win an injunctive ruling by a court to prohibit the seller completing the sale to a third party, so the only remedy available under the contract will be the recovery of wasted costs and, in limited circumstances, the additional payment of damages.
We are aiming to move property in October. Does my conveyancing solicitor liaise with the removal company on the completion day. On a separate note, can you put forward a removal company in Pontcanna. Conveyancing firm was chosen prior to coming across your site.
On the afternoon of completion you can collect the keys from your property agent but this should only be done after the previous owners solicitors confirm to the agent that they have the completion monies and the keys can be released. After that you should tell the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in finding a conveyancing in Pontcanna or a firm that specialises in conveyancing in Pontcanna.
Does a directory service exist listing Leeds Building Society panel conveyancers in Pontcanna on the Building Society Association’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings visible on the web. If you are looking for a Pontcanna conveyancer on the Leeds Building Society please use our tool.
After what seems like an age I have had an offer on a maisonette in Pontcanna accepted, but there is a chain. The vendors have placed an offer on a flat, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Pontcanna. What do I do now? When should I get the mortgage application with Co-operative going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Pontcanna conveyancing search fees, etc). First, you should ensure that your conveyancer is on the Co-operative conveyancing panel. Concerning the next stages this very much dictated by the uniqueness of your case, attraction to the property and on the state of the market. In a rising market the majority of home buyers would apply for a home loan with Co-operative and pay for the valuation and only if it comes back ok would they ask their lawyer to proceed with the conveyancing in Pontcanna.
I have been told that property searches are the main cause of obstruction in Pontcanna conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Pontcanna.
Are there restrictive covenants that are commonly identified during conveyancing in Pontcanna?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Pontcanna. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Pontcanna differ for newly converted properties?
Most buyers of new build premises in Pontcanna approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Pontcanna typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Pontcanna or who has acted in the same development.