We have very pushy vendors who has recommended a exclusivity agreement with a non-refundable deposit of 5k. Are such contracts generally advanced for Knebworth conveyancing transactions?
There are a couple of main concerns with executing a lock out contract (also referred to as an exclusivity agreement) is that it takes away the focus from making progress with the conveyancing work, so in the absence of it needing minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not strongly advocated by Knebworth conveyancing practitioners as a result. The other main negative is the extent of the remedies available - a jilted purchaser is very unlikely to obtain an injunction to bar the vendor completing the sale to a third party, so the only remedy available under the contract will be the reimbursement of wasted charges and, in limited circumstances, the extra payment of penalties.
We note that you have a post code search directory listing solicitors on the Virgin Money conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Knebworth?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Knebworth.
Should commercial conveyancing searches disclose proposed roadworks that may impact a commercial premises in Knebworth?
Its becoming the norm that commercial conveyancing solicitors in Knebworth will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Knebworth. 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 Knebworth.
For each commercial conveyancing transaction in Knebworth 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 could cause delays to Knebworth commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Knebworth.
How does conveyancing in Knebworth differ for newly converted properties?
Most buyers of new build or newly converted property in Knebworth approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Knebworth typically purchase 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 property lawyers 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 accustomed to new build conveyancing in Knebworth or who has acted in the same development.
Should I instruct a Knebworth conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can carry out the legal work however they are based 400kilometers drive away.
The primary upside of using a high street Knebworth conveyancing practice is that you can drop in to execute documents, present your ID and apply pressure on them where appropriate. Having local Knebworth know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were content that should trump using an unfamiliar Knebworth conveyancing lawyer just because they are Knebworth based.