We have very assertive vendors who has suggested a lock out agreement with a non-refundable deposit of 5k. Are such arrangements recommended for Winchester conveyancing transactions?
This form of agreement is not the norm in Winchester, conveyancers will often encourage clients away from them as they detract from focusing on the primary focus, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. In addition, there is no guarantee that just because the owner has signed a lock out contract they will sell to you. They may breach the contract if they are offered a large enough offer to do so because an aggrieved party with the benefit of a exclusivitycontract will still have to establish consequential losses from the breach and this may not equalise the extra amount that your vendor may secure by reneging on the agreement, however morally condemnable it undoubtedly is.
Whilst your site is a good idea there are numerous listed conveyancers doing conveyancing in Winchester who can also act for the bank. It would be a lot more useful if you could recommend a specific firm on the bank’s approved panel with offices in Winchester?
It is not this site’s intention to recommend specific firms as the best firm for you depends on where your priorities lie. For instance you may require a Winchester firm with upgrade loc knowledge or you might be looking for the lowest cost conveyancing. We recommend that you speak to two or three conveyancers listed before you make your choice to gain comfort as to which one is right for you
This question may be naive but I am unseasoned as a 1st time buyer of a ground floor flat in Winchester.Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Winchester?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you should be called to pick up the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.