In what way does my ID and proof of funds have anything to do with my conveyancing in Great Barford? What am I being asked for?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Great Barford. However these days you can not complete any conveyancing transaction if you have not supplying proof of your identity. This usually takes the form of a either your passport or driving licence plus a council tax bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper section and photo card part, one is not acceptable in the absence of the other.
Evidence of your source of funds is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your lawyer must have this information on record. Your Great Barford conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask additional queries concerning the source of monies.
Will our conveyancer be raising questions concerning flooding as part of the conveyancing in Great Barford.
Flooding is a growing risk for solicitors dealing with homes in Great Barford. There are those who buy a house in Great Barford, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a various searches that can be undertaken by the buyer or by their lawyers which will figure out the risks in Great Barford. The conventional set of property information forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to find out whether the property has ever been flooded. If flooding has previously occurred and is not notified by the seller, then a buyer could commence a claim for damages as a result of such an inaccurate response. The purchaser’s solicitors will also order an environmental search. This will disclose if there is any known flood risk. If so, more detailed investigations should be conducted.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Great Barford is the location of the property. What do you suggest?
Flying freeholds in Great Barford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Great Barford 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 Great Barford may determine 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.