The vendors of the home we are hoping to buy have instructed a conveyancing practitioner in Wells Next The Sea who has insisted on a preliminary contract with a deposit two thousand pounds. Are such agreements sensible?
There are two primary drawbacks with entering into any lock out contract (sometimes referred to as a no-shop agreement) is that it can distract from making progress with the conveyancing process, so unless it requires little or no negotiation then it may transpire to be unhelpful. It is not promoted amongst Wells Next The Sea conveyancing practitioners for this reason. A supplemental negative is the extent of the remedies available - an aggrieved purchaser is very unlikely to secure an injunctive ruling by a court to stop the vendor selling to another buyer, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in limited scenarios, the additional payment of damages.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wells Next The Sea? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms and Conditions that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be checked. Should you are unwilling to hand over identification documents, your solicitor would not be able to act for you.
We hope to to purchase with Melton Mowbray Building Society. I visited a few local firms but am struggling to find a Wells Next The Sea conveyancing firm on the Melton Mowbray Building Society panel. Could you help?
Feel free to make use of the search tool on this web page. Please choose the lender and type Wells Next The Sea or your preferred area and you will discover a number of lawyer located in Wells Next The Sea or near you.
I opted to have a survey done on a property in Wells Next The Sea ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some banks will not grant a loan on such a house.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wells Next The Sea. Conveyancing will be smoother if you use a solicitor in Wells Next The Sea especially if they are acquainted with such properties in Wells Next The Sea.
Am I right to be suspicious that brokers that I am dealing with are recommending a factory type conveyancing firm as opposed to a local Wells Next The Sea conveyancing company?
As is the case with many service providers, often referrals from connections can be very helpful. But there are numerous parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks might all recommend lawyers to instruct. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the discretion to appoint your own conveyancer. However, bear in mind that the majority of lenders operate an approved list of solicitors you have to use for the mortgage aspect of your conveyancing.