The sellers of the house we are purchasing are using a conveyancing firm in Aldersgate who has suggested a lock out agreement with a down payment two thousand pounds. Are such agreements sensible?
This form of preliminary agreement isn't common in Aldersgate, conveyancers are often inclined to direct clients away from them as they detract from focusing on the primary objective, namely conveyancing and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no assurance that just because the proprietor has executed a lock out contract they will sell to you. They may be in contravention of the contract if they receive a large enough offer to do so because an aggrieved party with the benefit of a exclusivitycontract will still be duty bound to show losses as a consequence of the breach and these may not amount to the financial upside that your vendor may secure by breaching the agreement, no matter how morally condemnable that may be.
It is 10 years ago since I purchased my house in Aldersgate. Conveyancing lawyers have recently been retained on the sale but I am unable to find my title documents. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by your mortgage company or they may still be with the solicitor who handled your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Aldersgate relates to registered property but in the rare situation where your home is unregistered it is more tricky but is resolvable.
I have todaybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Aldersgate for a purchase of a leasehold flat 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Aldersgate conveyancing specialists.