The vendors of the house we are purchasing have appointed a conveyancing firm in Shirehampton who has recommended a preliminary contract with a deposit two thousand pounds. Are such agreements sensible?
Exclusivity agreements are contracts between a home owner and purchaser granting the buyer the sole right to the sale of the property within an agreed time frame. For all intents and purposes, an exclusivity is a document stating that you should receive a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer assurance though in many situations, the owner may stand to benefit from such agreements as well. There are many pros and cons to having them but you need to check with your conveyancer but note that it may end up incurring extra in conveyancing fees. In light of these reasons these contracts are rare when it comes to conveyancing in Shirehampton.
In what way does my ID and proof of funds have anything to do with my conveyancing in Shirehampton? Why is this being asked of me?
Shirehampton conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Evidence of the origin of monies is also necessary under the money laundering laws as solicitors are mandated to ensure that the funds you are utilising to purchase a property (be it the exchange deposit or the total purchase price if you are a cash purchaser) has originated from legitimate source (such as an inheritance) rather than the product of illegitimate behaviour.
I need some quick conveyancing in Shirehampton as I am under an ultimatum to exchange contracts inside 3 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you are at liberty not to have searches carried out although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Shirehampton the following are instances of issues that can arise and adversely affect the marketability of the property: Enforcement Notices, Overdue Fees, Overdue Grants, Railway Schemes,...
Are there restrictive covenants that are commonly identified during conveyancing in Shirehampton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Shirehampton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey carried out on a property in Shirehampton prior to instructing solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some lenders will not issue a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this 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 Shirehampton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shirehampton to see if the conveyancing costs will increase in light of this.
How do I search for a Shirehampton solicitor on the Skipton Building Society conveyancing panel? I drive a motor bike and am prepared to travel upto 25miles to meet the conveyancer.
You can use the facility on this page. Please pick a lender and your location and you will see a number of Shirehampton conveyancing lawyers based on proximity. We have detailed some Shirehampton conveyancing firms towards the end of this page and you can call them to see whether they are on the Skipton Building Society panel