The owners have rather assertive sellers who has suggested a exclusivity agreement with a down payment 10k. Are such agreements sensible?
This type of arrangement isn't common in Rhiwbina, conveyancers are often inclined to direct clients away from them as they detract from the primary objective, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the seller has executed an exclusivity contract they will complete the sale with you. They may be motivated to break the contract if they are offered a large enough incentive to do so because an aggrieved claimant with the benefit of a lockoutcontract will still have to establish consequential losses from the breach and these may not compare to the financial upside that the owner may gain by breaking the contract, no matter how morally condemnable the behaviour is.
What does my ID and proof of funds have anything to do with my conveyancing in Rhiwbina? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to supply ID verification documents, your conveyancer would not be able to accept instructions from you.
My aunt passed away six months ago and as sole heir and executor I was left the house in Rhiwbina. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
Will our solicitor be asking questions regarding flooding during the conveyancing in Rhiwbina.
Flooding is a growing risk for conveyancers dealing with homes in Rhiwbina. There are those who acquire a house in Rhiwbina, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a various checks that may be carried out by the buyer or on a buyer’s behalf which should figure out the risks in Rhiwbina. The conventional set of information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to determine if the property has historically flooded. In the event that flooding has previously occurred and is not revealed by the owner, then a buyer could bring a legal claim for losses as a result of such an inaccurate reply. The buyer’s solicitors will also carry out an environmental report. This should reveal whether there is a recorded flood risk. If so, more detailed inquiries should be initiated.
Given that I am about to part with £400,000 on a two bedroom apartment in Rhiwbina I would like to talk to a conveyancer about myhouse move before instructing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor due to be conducting your conveyancing in Rhiwbina.There is no ‘factory style conveyancing’ - each client is unique person, not a file number. The law firms that we put you in touch with believe that the fees you are provided with for your conveyancing in Rhiwbina should be the figure that you are charged.