House purchase- clawback agreement query
Discussion
We're buying a new house which comes with a field and as part of the deal the seller has put a clawback agreement on the field should we ever sell the land with an uplift in value etc.
My query is relating to our solicitor (same company the seller is using) adding on fees for additional conveyancing relating to this. Given this is all to benefit the seller, is this something he should cover or is this typical? Totally naïve on this so may be way off the mark!
We're in Scotland, in case that makes a difference.
My query is relating to our solicitor (same company the seller is using) adding on fees for additional conveyancing relating to this. Given this is all to benefit the seller, is this something he should cover or is this typical? Totally naïve on this so may be way off the mark!
We're in Scotland, in case that makes a difference.
I’m not able to speak for Scotland because property law differs from England & Wales. But I specialise in overage and this sort of work is either involved and expensive (done properly) or absolute rubbish (tacked onto a conveyancing job). I’d always expect to pay more in legal fees but you really do get what you pay for.
When you say new do you mean new build?
If your conveyancing costs are included to sweeten the deal then it depends on the fine print. Have they agreed to simply pay your costs or have they set a maximum?
If you’re just coincidentally using the same conveyancer then it doesn’t seem unreasonable to be charged more for more work.
More context is needed me thinks.
If your conveyancing costs are included to sweeten the deal then it depends on the fine print. Have they agreed to simply pay your costs or have they set a maximum?
If you’re just coincidentally using the same conveyancer then it doesn’t seem unreasonable to be charged more for more work.
More context is needed me thinks.
Solicitor had come back with 'The general position with Clawbacks is that each party covers their own fees, The thinking being without it the seller would have been looking for a higher price for the land so it benefits both parties'.
Regarding my choice of solicitor, thanks for the patronising tone on house buying 101 but it is possible for us to use the same company with different solicitors. It's not like I went out looking to match him, we already had our solicitors in place since last October when we went on the market and we only saw this house back in May, low and behold, he was using the same company.
Regarding my choice of solicitor, thanks for the patronising tone on house buying 101 but it is possible for us to use the same company with different solicitors. It's not like I went out looking to match him, we already had our solicitors in place since last October when we went on the market and we only saw this house back in May, low and behold, he was using the same company.
HI
I had similar situation a couple of years ago - bought a house with extending 4 acres.
Prev owner tried for clawback, I contested it in the end and it was removed as I wasn't willing to pay conveyancing for it - was willing to allow it to be in place, but wouldn't pay for it.
All done on the advice of my excellent solicitor who is an expert in rural land management in Scotland.
https://www.leyshonws.co.uk/davidsoeder.asp
Give this chap a call and discuss your options - can't praise him enough
I had similar situation a couple of years ago - bought a house with extending 4 acres.
Prev owner tried for clawback, I contested it in the end and it was removed as I wasn't willing to pay conveyancing for it - was willing to allow it to be in place, but wouldn't pay for it.
All done on the advice of my excellent solicitor who is an expert in rural land management in Scotland.
https://www.leyshonws.co.uk/davidsoeder.asp
Give this chap a call and discuss your options - can't praise him enough
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