The sellers of the house we are looking to purchase have instructed a conveyancing practitioner in Chipping Barnet who has recommended a exclusivity contract with a deposit 6,000. Is it wise to enter into such agreements?

Exclusivity contracts are agreements binding a property owner and prospective buyer giving the buyer the sole right to the sale of the premises within a prescribed time frame. For all intents and purposes, an exclusivity agreement is a contract specifying that you will be issued with a contract at a later date being the main conveyancing contract. It tends to be utilised for buyer confidence though in many situations, the proprietor may stand to benefit from such agreements as well. There are many positives and negatives to having them but you need to check with your lawyer but beware that it may result in costing you more in conveyancing fees. For this these agreements are rare in relation to conveyancing in Chipping Barnet.

In what way does my ID and proof of funds have anything to do with my conveyancing in Chipping Barnet? Why is this being asked of me?

Chipping Barnet conveyancing solicitors and indeed property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).

Confirmation of the origin of monies is also required under the money laundering laws as conveyancers are duty bound to investigate that the monies you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase price if you are a cash purchaser) has come from legitimate source (such as an inheritance) and is not the proceeds of illegitimate behaviour.

I have been told that property searches are the primary reason for hinderance in Chipping Barnet conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Chipping Barnet.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Chipping Barnet is where the house is located. What do you suggest?

Flying freeholds in Chipping Barnet are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chipping Barnet you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chipping Barnet may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

My fiance and I are searching for a quality conveyancing solicitor in Chipping Barnet to purchase a apartment. I I am fearful of by bill escalating out of control but with so many Chipping Barnet conveyancing organisations out there...who do I opt for?

A trustworthy personal recommendation via a person who has instructed a conveyancing solicitor before is always a best. Almost everyone has used a conveyancing lawyer in the past. Do utilise our tool to compare Chipping Barnet conveyancing quotes