If liability is denied or we receive no response or decision we may advise you to obtain after the event insurance. We can do this for you and there will be no cost to you.
The date upon which the buyer is to pay the balance of purchase monies and the seller is to vacate the property and transfer the title to the property to the buyer
If we are able to offer you funding on a No Win No Fee basis we will require you to enter into a Conditional Fee Agreement (CFA). We will explain this to you and prepare a simple agreement for you to sign.
This arises where a seller decides to deal with more than one possible buyer, with a view to exchanging contracts with whoever is ready to do so first. Each buyer would be notified that this is the case.
A deed which is usually drawn up when joint purchasers are contributing unequal amounts towards the purchase price and therefore wish to hold the property as "tenants in common". This document details what shares joint owners have in the property and protects your investment in the property should any problems or disagreements occur in the future. This can also be used where a third party is contributing towards the purchase price but will not be a legal owner.
A flaw in the title to property, e.g. where the seller is unable to produce a copy of a relevant deed, or the title does not contain all necessary rights for the benefit of the property.
Normally 10% of the purchase price (a lesser amount is often acceptable) which is payable by a buyer upon exchange of contracts. If you are selling and buying, your buyer's deposit can usually be used to contribute to the deposit on your purchase. It acts both as a part payment and also as a guarantee that the buyer will actually complete the transaction. If the buyer unjustifiably refuses to complete after exchange of contracts, they will forfeit the deposit and the seller keeps it. It is not to be confused with preliminary deposit which is sometimes demanded by Estate Agents as a sign of good faith. If the buyer withdraws from the transaction before exchange he can demand the return of that deposit.
There are two contracts; one signed by the seller and one by the buyer. A contract becomes binding on both parties on the date they are exchanged. Contracts can be deemed to be exchanged by telephone so as to enable a whole chain of transactions to exchange on the same day. At this time the deposit is paid over to the Seller's solicitors.
An information pack which is prepared and produced before a property is offered for sale. The pack must include a copy of the title deeds, a Home Energy Report and searches.
An insurance policy to protect the owner and/or mortgage lender against a defect in the property or title, e.g. absence of building regulation approval, or breach of a restrictive covenant. There is usually a "one-off premium".
If a property is being purchased by more than one person they can hold their beneficial interest in the property, as between themselves, either as "joint tenants" (so that the survivor of them, should one die, will automatically become entitled to the whole property) or as "tenants in common" (resulting in both owning a specified share which can be left by will or dealt with under the rules which apply on intestacy). Husbands and wives often elect to hold as joint tenants whilst co-habitees are more likely to elect to hold as tenants in common. If you elect to hold as tenants in common it is highly recommended that you make or review your will.
If you have paid an additional premium under a household or motor insurance policy for legal expenses cover you m ay be able to utilise the policy to pursue a claim for compensation. We can advise you about this.
A pre-printed form asking a local authority to give replies to specific questions about the property you are buying relating to planning, road schemes, public health, building control and land charges. The search only relates to the property you are buying, so if you want to know more about the locality (new development, planning permission relating to adjoining land) specific enquiries will have to be made of the local authority.
If your case progresses with sufficient prospects of success we will arrange for you to see a medical expert privately. We will fund the cost of the medical report in most cases.
The formal offer of mortgage issued by a mortgage lender to the buyer once the mortgage lender is satisfied that he is creditworthy and that the property offers sufficient security. The mortgage lender will normally send a copy to the buyer's Solicitor at the same time.
A proportion of the mortgage loan may be retained by the mortgage lender as a mortgage condition to ensure that the buyer carries out specified essential repairs after completion. The monies would be released to the buyer once the mortgage lender was satisfied, normally by an inspection, that the repairs had been carried out.
If a builder is registered with the National House Building Council the property will normally have the benefit of the NHBC Buildmark Scheme, which provides insurance protection against structural defects in the property for the first 10 years after it is built.
All personal injury claims are governed by a recognised investigation period which for most claims is 3 months. This period commences after receiving an acknowledgment from your opponent's insurance company.
All properties are or must be registered at HM Land Registry and given a title number. When the purchase of the property has been completed the buyer's Solicitor will send the transfer deed to the Land Registry to have the buyer formally registered in the central records as the new owner.
A covenant which restricts the use of land, for the benefit of some adjoining land, which is binding not only on the current owners but also on any future owners of the land, e.g. a covenant not to use land except as a private dwellinghouse.
Under a CFA we charge a success fee which is a percentage uplift upon our basic costs. This will not affect you as it is charged to your opponent's insurers upon successful conclusion of the case.
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