Why These Checks Are Required
At Sears Property, we are required by UK law to undertake rigorous anti-money laundering (AML) checks on all clients involved in property transactions — whether you are selling or buying. Sears Property
These checks protect you, us, and the wider community by ensuring that the funds used in property transactions are legitimate and that beneficial ownership is clearly established.
What the Process Involves
Once you instruct us to sell or you have an offer accepted to buy a property, our partner firm will contact you to carry out the verification process on our behalf. This typically involves:
- Authenticating your identity with government-approved ID
- Confirming your address via recent utility bills or other proof of residence
- Searching reputable databases including the electoral roll, HM Land Registry and credit reference agencies
These checks are essential before we can list your property or issue a memorandum of sale.
Fees & Payment
To cover the cost of the AML service, clients will be required to pay a one-off fee of £60 (including VAT) in advance of publication or memorandum of sale.
This fee covers all individuals involved in the transaction under the same instruction and is non-refundable, even if the transaction does not complete.
Our Commitment to Compliance and Transparency
You can trust that:
- We operate in full compliance with AML regulations and keep detailed records of all checks undertaken.
- We will guide you through the process clearly, keeping you informed at every stage.
- All money handling related to our services is covered by our Client Money Protection and regulatory oversight.