The sellers of the house we are looking to purchase are using a conveyancing firm in Shepton Mallet who has insisted on a exclusivity agreement with a down payment two thousand pounds. Is it wise to enter into such agreements?
There are a couple of main downsides with entering into any lock out contract (also termed a shut-out contract) is that it can distract from moving forward with the conveyancing process, so in the absence of it needing little or no negotiation then it could transpire to be a hindrance. It is not promoted amongst Shepton Mallet conveyancing solicitors for this reason. The other main issue is the extent of the remedies available - a jilted purchaser should not expect to obtain an injunction to bar the vendor selling to a third party, so the only remedy open via the contract will be the reimbursement of abortive charges and, in limited scenarios, the extra payment of damages.
It is 10 years ago since I purchased my house in Shepton Mallet. Conveyancing solicitors have recently been instructed on the sale but I am unable to locate the deeds. Is this a major issue?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they may be in the possession of the conveyancers who oversaw the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Almost all conveyancing in Shepton Mallet relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
My wife and I are purchasing a apartment in Shepton Mallet. It might be a silly question but how we can trust a conveyancer? At some point we have to deposit our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I can see plenty of here concerning conveyancing in Shepton Mallet but what is your top tip for choosing the right conveyancer in Shepton Mallet
Do not opt for the lowest Shepton Mallet conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just bought a property at auction in Shepton Mallet. Conveyancing is required. What happens now?
Given that you have now exchanged you will need to retain a conveyancing solicitor quickly as you will have a tight a drop dead date to complete the deal. An auction property should have an associated legal pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You need to pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
I own a 4 bedroom Victorian house in Shepton Mallet. Conveyancing solicitor represented me and Birmingham Midshires. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review 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 Shepton Mallet and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
We're new to the buying process - had an offer accepted, but the selling agent told us that the owners will only proceed if we instruct their chosen lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Shepton Mallet
We suspect that the seller is unaware of this requirement. Should the owner desire ‘a quick sale', taking such a hostile approach to a motivated buyer is going to damage their objectives. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Shepton Mallet conveyancing solicitors - rather thanthe ones that will provide their negotiator at the agency a kickback or achieve conveyancing targets demanded by head office.