We have very assertive vendors who has suggested a preliminary agreement with a non-refundable deposit 10k. Is it wise to enter into such agreements?
Lock out agreements are agreements between a home seller and purchaser granting the buyer exclusive rights to purchase the premises for a set period of time. Essentially, an exclusivity agreement is a contract stating that you should have a contract at a later date being the contract for the actual sale. It tends to be utilised for buyer assurance though in many situations, the proprietor may enjoy an upside from such agreements as well. There are many positives and negatives to having an agreement but you should to check with your solicitor but note that it may end up costing you more in conveyancing fees. For these reasons these contracts are avoided when it comes to conveyancing in Hanwell.
My fiance and I intend to purchase a purpose built flat in Hanwell with a mortgage from Halifax.We would like to retain our Hanwell conveyancing practitioner but Halifax says her practice is not listed on their "panel". It seems we are left with no choice but to instruct a Halifax panel solicitor or retain our high street solicitor and pay for a Halifax panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors needs to be on the Halifax solicitor panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Halifax
3 months have elapsed since my purchase conveyancing in Hanwell concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Hanwell differ for newly converted properties?
Most buyers of new build or newly converted property in Hanwell contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Hanwell typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hanwell or who has acted in the same development.
My step-father has recommend that I appoint his conveyancers in Hanwell. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to get guidance from friends or relatives who have experience in using the solicitor you're contemplating using.