The owners of the property we are purchasing are using a conveyancing practitioner in Trafford Park who has suggested a lock out agreement with a down payment of 5k. Is it wise to enter into such agreements?
This type of agreement isn't common in Trafford Park, conveyancers are not keen on them as they detract from focusing on the primary objective, namely conveyancing 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. Secondly, there is no assurance that just because the vendor has signed an exclusivity contract they will complete the sale with you. They may breach the agreement if they receive sufficient financial inducement to do so because an aggrieved buyer with the benefit of a exclusivity agreement will still have to show losses as a consequence of the breach and these may not compare to the financial upside that your vendor may obtain by reneging on the contract, no matter how morally reprehensible that may be.
Having sold my house in Trafford Park last August but my buyer keeps e-mailing every few hours to say his solicitor is waiting to hear from mine. What should have happened now that I have sold?
Following your house sale your solicitor should send the transfer documentation and all of the paperwork to the buyer’s lawyers. Where appropriate, your solicitor should also evidence that the home loan has been discharged to the buyers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Trafford Park.
I am buying a new build flat in Trafford Park. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Trafford Park you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Trafford Park.
Due to the input of my in-laws I had a survey completed on a property in Trafford Park before retaining conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks may not grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Trafford Park. Conveyancing may be slightly more expensive based on your lender's requirements.
Are there any apps to help locate a Trafford Park solicitor on the Yorkshire Building Society conveyancing panel? I have a car and am willing to travel upto 20miles to meet the solicitor.
You can use the facility on this page. Please pick a bank and your location and you will see a number of Trafford Park conveyancing lawyers located nearest you. We have listed some Trafford Park conveyancing firms at the bottom of this page and you can call them to check if they are on the Yorkshire Building Society member panel