The owners have rather pushy vendors who has insisted on a lock out agreement with a down payment 6,000. Are such agreements sensible?
This type of preliminary agreement is unusual in Poole, conveyancers will often direct clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no assurance that just because the vendor has signed an exclusivity agreement they will sell to you. They may be in contravention of the agreement if they receive sufficient financial inducement to do so because an aggrieved buyer with the benefit of a exclusivity agreement will still be legally obliged to show losses as a consequence of the breach and this may not equate the extra amount that the owner may gain by breaking the contract, no matter how morally shameful it undoubtedly is.
Various web forums that I have come across warn that are a common reason for hinderance in Poole house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Poole.
How does conveyancing in Poole differ for new build properties?
Most buyers of new build property in Poole come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Poole typically buy the real estate, 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 conveyancers 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 used to new build conveyancing in Poole or who has acted in the same development.
We're new to the buying process - agreed a price, but the estate agent advised that the vendor will only issue a contract if we use their preferred lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor used to conveyancing in Poole
We suspect that the seller is unaware of this demand. If they desire ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Contact the vendors directly and explain that (a)you are genuine purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to use your preferred Poole conveyancing solicitors - as opposed tothose that will provide their negotiator at the agency a commission or hit his conveyancing figures pre-set by corporate headquarters.
What advice can you give us when it comes to choosing a Poole conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Poole conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Poole conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
What are the legal fees for lease extension conveyancing?
Leasehold Conveyancing in Poole - Sample of Questions you should ask before buying
You will want to find out as much as you can concerning the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the communal areas. Enquire of prospective neighbours what they think of them. Finally, find out the dates that the service charges are due to the appropriate party and precisely how they are spending the funds. How many of the leaseholders are in arrears for their maintenance charge payments? How long is the Lease?