The sellers of the property we are hoping to buy have appointed a conveyancing practitioner in Blackburn who has suggested a preliminary contract with a deposit 6,000. Is it wise to enter into such agreements?
This kind of preliminary agreement is unusual in Blackburn, conveyancers will often direct clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the lawyer is left exposed. In addition, there is no certainty that just because the proprietor has entered into an exclusivity agreement they will sell to you. They may breach the contract if they receive a large enough financial inducement to do so because an aggrieved party with the benefit of a exclusivitycontract will still be obliged show losses as a consequence of the breach and this may not compare to the financial upside that your vendor may gain by breaching the agreement, however morally unworthy the behaviour is.
What does my ID and proof of funds have anything to do with my conveyancing in Blackburn? Why is this being asked of me?
Blackburn conveyancing solicitors and indeed property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Utility Bill no older than three months).
Confirmation of source of monies is also necessary in compliance with the money laundering regulations as lawyers are required to check that the monies you are utilising to acquire a property (be it the exchange deposit or the full purchase price if you are a cash purchaser) has come from an acceptable source (such as employment savings) and is not the fruits of illegitimate activity.
I need some quick conveyancing in Blackburn as I have an ultimatum to sign on the dotted line within one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at liberty not to do searches although no solicitor would advise that you don't. With lots of history conveyancing in Blackburn the following are examples of what can arise and adversely affect future saleability: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
How does conveyancing in Blackburn differ for newly converted properties?
Most buyers of new build premises in Blackburn come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Blackburn usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Blackburn or who has acted in the same development.
My uncle has encouraged me to use his lawyers for conveyancing in Blackburn. Should I use them?
Much as we are happy to recommend a Blackburn conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek guidance from friends or relatives who have experience in using the solicitor that you are are thinking of instructing.
At what stage do I incur stamp duty payable for my conveyancing in Blackburn?
Most conveyancers tend to complete a Land Transaction Return Form for you during your Blackburn conveyancing transaction for you to sign. After completion your conveyancer will submit the Land Transaction Return Form to the Tax Authorities and - assuming they have the funds - discharge any land tax payable on your behalf.