My brother and I have lately purchased a property in Seaham. We have noticed several issues with the house which we believe were overlooked in the conveyancing searches. What action can we take? What searches should? have been carried out as part of conveyancing in Seaham?
The question is not clear as to the nature of the problems and if they are specific to conveyancing in Seaham. Conveyancing searches and due diligence initiated during the legal transfer of property are carried out to help avoid problems. As part of the process, a seller fills in a document called a SPIF. answers ends up being inaccurate, you may have a misrepresentation claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Seaham.
We are buying a flat and require a conveyancing solicitor in Seaham who is on the Barclays approved panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Seaham.
I had intended to instruct a conveyancing solicitor in Seaham for our house move. Our financial adviser informed us that our bank Halifax won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most lenders had a different appetite for risk. Almost all Seaham conveyancing firms would have been on most lender panels. The FSA in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms relating to their operations and their employees and set certain criteria such a completing on a minimum number of transactions. Many Seaham conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Seaham is one of the hundreds of locations where the lawyers we list are are authorised to act for Halifax.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Seaham is the location of the property. Can you offer any advice?
Flying freeholds in Seaham 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 Seaham you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Seaham may ascertain 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.
What does commercial conveyancing in Seaham cover?
Commercial conveyancing in Seaham incorporates a wide array of advice, given by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Can you provide any top tips for leasehold conveyancing in Seaham with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Seaham can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers’ solicitors. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Seaham state that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such works. Should you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor in advance. A minority of Seaham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Seaham home move. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
I bought a split level flat in Seaham, conveyancing was carried out 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Seaham with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2094
With just 69 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.