The vendors of the property we are looking to purchase hired a conveyancing practitioner in Acocks Green who has insisted on a exclusivity agreement with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
There are two primary drawbacks with signing a lock out contract (also known as an exclusivity agreement) is that it can distract from progressing with the conveyancing process, so unless it requires minimal or no negotiation then it could transpire to be a cause of frustration and delay. It is not strongly advocated amongst Acocks Green conveyancing lawyers for this reason. A supplemental issue is the extent of the remedies available - a jilted purchaser should not expect to be granted an injunction to prohibit the owner disposing of the property to a third party, so the only remedy available under the contract will be the reimbursement of wasted costs and, in rare scenarios, the additional payment of penalties.
At what point will exchange of contracts happen for purchase conveyancing in Acocks Green and do I need to attend the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Acocks Green you are welcome to come in to sign the paperwork. That being said, the firms we work with supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when dealing with you digitally. The executing of the property agreement is not when everything is set in stone. Signing on the dotted line is necessary for the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Acocks Green)to be in the office at the appropriate time.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The lawyers who conducted the conveyancing in Acocks Green 5 years ago are no longer around. What are my next steps?
As long as you have a registered title the details of your ownership will be documented by HMLR under a Title Number. It is easy to conduct a search at the Land Registry, locate your property and obtain current copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will in most cases retain a certified duplicate of the Registered Lease and again, a copy can be retrieved for a small fee.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Acocks Green is where the house is located. Is there any guidance you can give?
Flying freeholds in Acocks Green are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Acocks Green you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Acocks Green may decide 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.
I have been advised by numerous selling agents in Acocks Green to select a conveyancer on your site. Is there a financial incentive for Estate Agents to offer your services ahead of alternative conveyancing organisations?
We don’t offer any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.