The vendors of the property we are looking to purchase have appointed a conveyancing solicitor in Angmering who has suggested a lock out agreement with a down payment of 5k. Are such agreements sensible?
There are two main drawbacks with entering into any lock out agreement (also known as a no-shop agreement) is that it diverts attention away from progressing with the conveyancing process, so in the absence of it needing limited or no negotiation then it could transpire to be unhelpful. It is not particularly popular amongst Angmering conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - a jilted buyer is not likely to be granted an injunctive ruling by a court to prohibit the vendor completing the sale to a third party, so the only remedy available under the agreement will be the recovery of wasted charges and, in limited scenarios, the extra payment of penalties.
Please explain the implications if my solicitor is expelled from the Skipton Conveyancing panel ahead of completing my conveyancing in Angmering?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My wife and I are purchasing a flat in Angmering. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to deposit money into their account. What is the protection we have from them run away with our deposit?
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.
We had instructed conveyancers with offices in Angmering on the Santander solicitor panel. They are now charging me a supplemental charge for dealing with the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your solicitor may charge a fee for this. The fee is not set by Santander but by your Angmering conveyancer. Some firms on the Santander panel will quote an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
Nationwide have agreed my home loan in principle, my bid on a house in Angmering has been agreed to, what happens next?
Your property agent will need to be informed of your conveyancing practitioner's details (make sure the solicitors are on the bank’s approved list). Contact Nationwide or the broker and complete any appropriate forms. Nationwide will instruct a valuer who will get in touch with the estate agent or owners to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Nationwide will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Angmering.
We're first time buyers - had an offer accepted, yet the estate agent has warned us that the seller will only issue a contract if we appoint the agent's preferred conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Angmering
It is unlikely the owners are driving this. If they want ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Try to communicate with the sellers directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to use your preferred Angmering conveyancing lawyers - as opposed tothe ones that will give the negotiator at the agency a kickback or meet his conveyancing figures pre-set by senior management.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275,000 garden flat in Angmering on Friday in a week. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Angmering?
For the majority of leasehold sales in Angmering conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering conveyancing due diligence enquiries
Where consent is required before sale in Angmering
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a basement flat in Angmering, conveyancing formalities finalised March 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Angmering with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ceases on 21st October 2093
You have 69 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.