The owners have very assertive vendors who has recommended a lock out agreement with a down payment of 5k. Are such agreements recommended for Coombe Dingle conveyancing transactions?
Exclusivity agreements are agreements between a property seller and purchaser granting the buyer exclusive rights to purchase the property for a set period of time. Essentially, an exclusivity is a document stating that you will receive a contract at a later time being the main conveyancing contract. It tends to be utilised for buyer confidence though in many situations, the owner may enjoy an upside from such agreements as well. There are various positives and negatives to having an agreement but you need to check with your conveyancer but note that it may result in incurring extra in conveyancing fees. In light of this these agreements are avoided when it comes to conveyancing in Coombe Dingle.
When does exchange of contracts happen for purchase conveyancing in Coombe Dingle and do I need to attend the conveyancers office?
Where you are local to one of the conveyancing solicitors in Coombe Dingle you are invited in to sign the paperwork. That being said, the law practices we recommend provide countrywide coverage for conveyancing and give as equally detailed and professional a job for you when communicating with you electronically. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Coombe Dingle)to be in the office at the appropriate time.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Coombe Dingle is where the house is located. Is there any advice you can give?
Flying freeholds in Coombe Dingle are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Coombe Dingle you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Coombe Dingle may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.