The owners of the house we are purchasing are using a conveyancing practitioner in Brecon Beacons who has insisted on a lock out contract with a deposit 10k. Is it wise to enter into such agreements?
There are two main downsides with signing a lock out agreement (occasionally termed an exclusivity agreement) is that it can distract from progressing with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it could transpire to be unhelpful. It is not promoted amongst Brecon Beacons conveyancing solicitors as a result. A further issue is the extent of the remedies available - an aggrieved buyer is not likely to be granted injunctive relief to prevent the vendor completing the sale to a third party, so the only remedy open via the contract will be the recovery of wasted costs and, in limited circumstances, the additional payment of damages.
It is a dozen years since I bought my property in Brecon Beacons. Conveyancing lawyers have recently been appointed on the sale but I am unable to find the title deeds. Will this cause complications?
You need not be too concerned. Firstly there is a possibility that the deeds will be kept by the lender or they could be in the possession of the solicitor who handled the purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. Almost all conveyancing in Brecon Beacons relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.
Have just purchased a probate house at auction in Brecon Beacons. Conveyancing is required. What are my next steps?
Having exchanged you now have to find a conveyancing practitioner quickly as you now have a fast approaching deadline in which to complete the transaction. An auction property will have an associated legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You need to pass this on to your appointed conveyancing solicitor ASAP. Do make sure that your finances are in order to complete on the date specified in the contract.