What does my ID and proof of funds have anything to do with my conveyancing in Kings Heath? What am I being asked for?

To satisfy the Money Laundering Regulations any Kings Heath conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account showing your correct address.

In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not just the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this will lead to your conveyancer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers will have an obligation to inform the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.

What does a local search inform me regarding the property we're buying in Kings Heath?

Kings Heath conveyancing often commences with the submitting local authority searches directly from local Authority or through a personal search company for example Searchflow The local search is essential in every Kings Heath conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.

How does conveyancing in Kings Heath differ for newly converted properties?

Most buyers of new build or newly converted property in Kings Heath come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Kings Heath usually purchase 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 conveyancers 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 Kings Heath or who has acted in the same development.