The owners of the property we are looking to purchase are using a conveyancing solicitor in Stocksfield who has recommended a exclusivity agreement with a non-refundable deposit of 5k. Is it wise to enter into such agreements?
Exclusivity agreements are agreements binding a property vendor and prospective buyer giving the buyer the sole right to the sale of the premises for a limited period of time. For all intents and purposes, an exclusivity agreement is a contract stating that you will receive a contract at a later time being the contract for the actual sale. It is generally utilised for buyer assurance though in many situations, the seller may stand to benefit from such agreements as well. There are numerous pros and cons to having them but you should to check with your solicitor but beware that it may end up costing you more in conveyancing fees. For this these contracts are unusual in relation to conveyancing in Stocksfield.
The deeds to our house are lost. The conveyancers who did the conveyancing in Stocksfield 4 years ago have long since closed. What are my next steps?
You no longer need to have the physical deeds to evidence that you own the land or property, as the Land Registry have everything they need in a digital format.
Due to the guidance of my in-laws I had a survey completed on a property in Stocksfield in advance of instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some banks may refuse to issue a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stocksfield. Conveyancing may be slightly more expensive based on your lender's requirements.
How easy is it to use the search facility to choose a conveyancing lawyer in Stocksfield on the panel for my mortgage?
First choose a mortgage company such as Nationwide Building Society, Chelsea Building Society or Barclays Direct then choose your location for example Stocksfield. Conveyancing organisations in Stocksfield and further afield will then be shown.
We're novice buyers - had an offer accepted, but the agent has warned us that the owners will only issue a contract if we appoint the agent's chosen conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local conveyancer used to conveyancing in Stocksfield
We suspect that the seller is unaware of this ultimatum. If they desire ‘a quick sale', turning down a genuine buyer is counter productive. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Stocksfield conveyancing firm - not the ones that will give the negotiator at the agency a kickback or achieve conveyancing figures set by HQ.