The owners have very brash sellers who has recommended a exclusivity contract with a down payment 6,000. Are such agreements the norm for Ferryside conveyancing transactions?
This type of contract is not the norm in Ferryside, conveyancers are not keen on them as they detract from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the owner has signed a lock out agreement they will complete the sale with you. They may be tempted to break the agreement if they receive a large enough offer to do so because an aggrieved claimant with the benefit of a exclusivitycontract will still be duty bound to establish consequential losses from the breach and these may not equalise the extra amount that your seller may obtain by breaching the agreement, no matter how morally shameful that may be.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Ferryside is where the house is located. Is there any advice you can give?
Flying freeholds in Ferryside are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ferryside you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ferryside may ascertain 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.
Should I be suspicious by third parties that I am dealing with are recommending a web based conveyancing firm as opposed to a High Street Ferryside conveyancing firm?
As is the case with many service providers, often recommendations from relatives can be very helpful. Yet there are many people with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and banks might all put forward lawyers to use. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the recommendation. You are at liberty to select your own conveyancer. Don't forget that some lenders operate an approved list of law firms you must use for the lender aspect of your home move.