The owners of the property we are looking to purchase have instructed a conveyancing solicitor in Benfleet who has suggested a preliminary contract with a deposit 6,000. Are such agreements sensible?

Exclusivity agreements are agreements between a property owner and prospective buyer giving the buyer exclusive rights to purchase the premises for a set period of time. For all intents and purposes, an exclusivity is a document stating that you should have a contract at a later date being the contract for the actual sale. It tends to be utilised for buyer assurance though in some cases, the proprietor may stand to benefit from such agreements as well. There are various pros and cons to using them but you need to check with your lawyer but beware that it may result in incurring more in conveyancing charges. In light of these reasons these contracts are not popular when it comes to conveyancing in Benfleet.

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

It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Benfleet. However these days you can not proceed with any conveyancing process without first handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as proof of identification it needs to be both the paper part and photo card part, one is not sufficient without the other.

Verification of your origin of funds is necessary in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer must have this information on file. Your Benfleet conveyancing lawyer will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask further questions concerning the source of funds.

My father-in-law has recommend that I use his conveyancing solicitors in Benfleet. Do I follow his guidance?

No doubt the ideal way to find a conveyancing lawyer is to get feedback from friends or family who have actually experience in using the conveyancer you're contemplating using.

I am in need of some leasehold conveyancing in Benfleet. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Benfleet - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I inherited a garden flat in Benfleet, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Benfleet with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2094

You have 68 years left to run the likely cost is going to span between £9,500 and £11,000 as well as legals.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

I have recently placed an offer on a leasehold flat in Benfleet and the mortgage adviser that we are using recommended his property lawyer. They quoted £1000 including VAT and 3rd party costs. Does this sound like a good deal?

Don't just go on 1 estimate. You should seek like-for-like quotes for your conveyancing in Benfleet. Then pick one that you are comfortable with and crucially, is on the approved list of the lender that you have applied for a mortgage from.