We have rather pushy vendors who has recommended a exclusivity agreement with a non-refundable deposit 10k. Is it wise to enter into such agreements?
Exclusivity agreements are agreements between a property vendor and prospective acquirer giving the buyer the sole right to the sale of the premises within an agreed time frame. Essentially, a lock out is a document specifying that you will have a contract at a later time being the main conveyancing contract. It is generally used for buyer protection though in some cases, the proprietor may stand to benefit from such agreements as well. There are numerous pros and cons to having an agreement but you need to check with your lawyer but beware that it may end up incurring more in conveyancing fees. In light of these reasons these agreements are not popular when it comes to conveyancing in Saxilby.
What can a local search tell me about the property we're buying in Saxilby?
Saxilby conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search is essential in every Saxilby conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I used Stirling Law several years ago for my conveyancing in Saxilby. I now require my papers however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Saxilby of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Just had an offer accepted on a new build flat in Saxilby. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Saxilby
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Am in the process of buying my 1st property in Saxilby. Conveyancing practitioner already chosen. The mortgage adviser advised that a survey is not appropriate as the house is just 17 years old.
You would be best advised to have a Home Buyer's Report. As the premises was built over a decade ago the property will not benefit from a warranty, so you don't want to take a risk. For a property that age with no signs of defects a Home Buyer's report may be sufficient. They will highlight any apparent problems and recommend additional investigation where appropriate. If there are any indications of problems seek a comprehensive Building Survey from the beginning.