The owners of the house we are hoping to buy have instructed a conveyancing firm in Horley who has insisted on a preliminary agreement with a payment two thousand pounds. Is it wise to enter into such agreements?

There are a couple of main concerns with signing a lock out contract (sometimes known as a shut-out contract) is that it can distract from moving forward with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it may transpire to be unhelpful. It is not strongly advocated amongst Horley conveyancing lawyers for this reason. A supplemental negative is the extent of the remedies available - a jilted purchaser is not likely to secure injunctive relief to bar the seller selling to an alternative purchaser, so the only remedy open via the contract will be the recovery of wasted charges and, in rare scenarios, the extra payment of penalties.

What does my ID and proof of funds have anything to do with my conveyancing in Horley? Is this really warranted?

It is indeed that case that these requests have nothing to do with conveyancing in Horley. Nowadays you can not proceed with any conveyancing deal in the absence handing over evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of identification it must be both the paper part as well as the photo card part, one is not sufficient without the other.

Evidence of the origin of monies is necessary under Money Laundering Regulations. You should not be offended when you are asked to produce this as your lawyer must have this information on file. Your Horley conveyancing practitioner will require evidence of proof of funds prior to accepting any monies from you into their client account and they will also ask further queries regarding the source of monies.

Will commercial conveyancing searches disclose proposed roadworks that could affect a commercial land in Horley?

Its becoming the norm that commercial conveyancing solicitors in Horley will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Horley. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Horley.

For every commercial conveyancing transaction in Horley it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Horley commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Horley.

I'm purchasing a new build house in Horley with the aid of help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my conveyancer about this extras as it will affect my mortgage with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Horley is the location of the property. Can you offer any opinion?

Flying freeholds in Horley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Horley you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Horley 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.