I chose a high street solicitor for my conveyancing in Sedgefield last week. Going through the Terms I seewe are on the hook for costs even if the movedoes not go ahead. Should I ditch them and use an on-line firm who offer no-sale-no-fee conveyancing in Sedgefield?
Generally there is a concession along the lines that if "No Sale No Fee" is advertised then the conveyancing charges will tend to be be more expensive to counteract the cases that abort. Also remember that such offerings tend not to protect you from expenditure for example Sedgefield conveyancing search expenses.
Various web forums that I have visited warn that are a common cause of delay in Sedgefield conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Sedgefield.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Sedgefield is the location of the property. Can you shed any light on this issue?
Flying freeholds in Sedgefield are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sedgefield you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sedgefield may decide 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 residence.
Am I better off to go with a Sedgefield conveyancing lawyer who is local to the property I am purchasing? An old friend can deal with the legal work however they are based 300kilometers away.
The primary upside of using a local Sedgefield conveyancing firm is that you can attend the office to sign documents, present your identification documents and apply pressure on them where appropriate. Having local Sedgefield know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and in the main were content that should surpass using an unfamiliar Sedgefield conveyancing solicitor just because they are round the corner.
I am a negotiator for a long established estate agent office in Sedgefield where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Sedgefield conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a leasehold flat in Sedgefield, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding flats in Sedgefield with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2092
With 70 years left to run the likely cost is going to range between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I am contemplating appointing a web based property lawyer rather than a Sedgefield conveyancing practice. Should I ‘stay local’?
There are advantages of being able to attend a local Sedgefield conveyancing solicitor for example
- signing papers same day
- sometimes being able to see someone face-to-face can make a significant difference, particularly for non-standard conveyancing
- the ability to raise concerns if things need to addressed
When analysing fees, look out for hidden extras. Most decent Sedgefield high street solicitors give an all-inclusive price. Often online agents appear to offer low cost fees, yet have burried 'extras' in the fine print.