The owners of the property we are purchasing have instructed a conveyancing solicitor in Brough who has suggested a preliminary agreement with a deposit 10k. Are such agreements sensible?
There are two primary drawbacks with signing a lock out contract (sometimes known as an exclusivity agreement) is that it diverts attention away from making progress with the conveyancing transaction itself, so in the absence of it needing limited or no negotiation then it may turn out to be a hindrance. It is not strongly advocated by Brough conveyancing practitioners as a result. A further issue is the extent of the remedies available - a jilted buyer is not likely to obtain injunctive relief to stop the owner selling to an alternative purchaser, so the only remedy available under the agreement will be the recovery of wasted charges and, in limited situations, the additional payment of penalties.
The deeds to my property can not be found. The lawyers who conducted the conveyancing in Brough 10 years ago no longer exist.What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer should know precisely where to locate all the suitable documentation so you can buy or dispose of your property without any difficulty. If duplicates are not available, your conveyancer may be able to put in place insurance or indemnities protecting you against possible claims on your property.
Do I need to be wary by brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Brough conveyancing company?
As is the case with lots of professional services, often recommendations from connections can be very helpful. Yet there are many people with a keen interest in a conveyancing matter; estate agents, financial adviser and lenders may put forward conveyancers to retain. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but sometimes there exists a financial incentive behind the recommendation. You have the discretion to select your own lawyer. Don't forget that most lenders specify a panel list of conveyancers you must use for the lender aspect of your home move.