We have rather brash sellers who has recommended a exclusivity agreement with a non-refundable deposit 6,000. Are such agreements sensible?
This type of arrangement is unusual in Ripon, conveyancers will often encourage clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the proprietor has entered into an exclusivity contract they will complete the sale with you. They may breach the contract if they receive a big enough incentive to do so because a wronged purchaser with the benefit of a exclusivity agreement will still have to show losses as a consequence of the breach and these may not compare to the extra amount that your vendor may obtain by reneging on the agreement, however morally condemnable that may be.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ripon? Why is this being asked of me?
Ripon conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; 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 funds is also required under the money laundering regulations as conveyancers are mandated to check that the monies you are utilising to buy a property (whether it be the deposit for exchange or the full purchase amount if you are a cash purchaser) has originated from an acceptable source (such as an inheritance) and is not the fruits of criminal behaviour.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Ripon so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for lenders undertake the vast majority of communications through the post, internet or over the phone. This means that they can undertake the legal work for your home move regardless of where you live in England or Wales. Nevertheless you should check if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
I am planning on selling our property in Ripon and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Ripon lawyer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing firm as opposed to a conveyancing solicitor in Ripon. Having lived in Ripon for 5 years we know of no issue. Do we get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Due to the guidance of my in-laws I had a survey completed on a property in Ripon ahead of retaining conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some lenders tend not give a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ripon. Conveyancing may be slightly more expensive based on your lender's requirements.
I was recommended by a number of estate agents in Ripon to select a solicitor using your seach tool. Is there a financial inducement for Estate Agents to recommend your services over and above alternative conveyancing organisations?
We refuse to give any referral fee for pointing buyers and sellers our way. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.