We have very brash vendors who has recommended a lock out agreement with a non-refundable deposit 10k. Are such contracts the norm for Tiptree conveyancing transactions?
This type of arrangement isn't common in Tiptree, conveyancers are often inclined to direct clients away from them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the owner has entered into a lock out agreement they will complete the sale with you. They may be inclined to break the agreement if they are offered sufficient financial inducement to do so because an aggrieved claimant with the benefit of a lockout agreement will still be obliged show losses as a consequence of the breach and these may not compare to the extra amount that your vendor may obtain by breaching the contract, no matter how morally condemnable that may be.
In what way does my ID and proof of funds have anything to do with my conveyancing in Tiptree? What am I being asked for?
In order to comply with Money Laundering Regulations any Tiptree conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, property lawyers are required to ascertain not just the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
It is not clear whether my bank requires a lease extension. I have called into my local Tiptree building society branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Tiptree conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. I have no idea who is right.
Your solicitor must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being pedantic. The Tiptree solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Planning on purchasing a house in Tiptree. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Tiptree lawyer is on the Nationwide conveyancing panel.
Do commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Tiptree?
Its becoming the norm that commercial conveyancing solicitors in Tiptree will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Tiptree. The search result sets out 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 Tiptree.
For every commercial conveyancing transaction in Tiptree it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Tiptree commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Tiptree.
What does commercial conveyancing in Tiptree cover?
Commercial conveyancing in Tiptree covers a broad range of advice, provided by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.