The owners have very pushy vendors who has suggested a exclusivity agreement with a deposit 6,000. Are such arrangements generally advanced for Warsash conveyancing transactions?
This kind of agreement is unusual in Warsash, conveyancers are often inclined to direct clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the lawyer is left exposed. Secondly, there is no guarantee that just because the proprietor has executed a lock out contract they will sell to you. They may be inclined to break the agreement if they are offered a big enough financial inducement to do so because an aggrieved party with the benefit of a exclusivitycontract will still be legally obliged to establish consequential losses from the breach and this may not amount to the extra amount that your seller may secure by reneging on the contract, however morally unworthy the behaviour is.
Me and my brother have a semi-detached Edwardian property in Warsash. Conveyancing practitioner acted for me and . I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Warsash and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing solicitor who completed the work.
How does conveyancing in Warsash differ for new build properties?
Most buyers of new build or newly converted property in Warsash contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Warsash typically buy 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 used to new build conveyancing in Warsash or who has acted in the same development.