Should our conveyancer be making enquiries about flooding as part of the conveyancing in Sedgefield.
Flooding is a growing risk for conveyancers conducting conveyancing in Sedgefield. There are those who acquire a house in Sedgefield, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, but there are a numerous checks that may be carried out by the purchaser or by their conveyancers which can figure out the risks in Sedgefield. The conventional set of information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine if the premises has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a purchaser may issue a claim for damages resulting from an misleading response. A buyer’s lawyers will also commission an enviro search. This should higlight if there is any known flood risk. If so, further investigations will need to be conducted.
Me and my brother own a semi-detached Edwardian house in Sedgefield. Conveyancing solicitor acted for me and Barnsley Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the exact same property. Is it worth asking Barnsley Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sedgefield and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing practitioner who conducted the purchase.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Sedgefield is where the house is located. Can you offer any assistance?
Flying freeholds in Sedgefield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sedgefield you must be sure that your lawyer goes through the deeds very carefully. Your lender 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 property.
How do I use your search app to select a conveyancing solicitor in Sedgefield on the approved list for my lender?
1st pick a lender such as National Westminster Bank, Norwich and Peterborough Building Society or Barclays Direct then specify your preferred area a common one being Sedgefield. Conveyancing firms in Sedgefield and beyond will then be listed.
My cousin has recommend that I instruct his lawyers for conveyancing in Sedgefield. Do I take his recommendation?
Much as we are happy to recommend a Sedgefield conveyancing lawyer the best way to select a conveyancing solicitor is to get referrals from friends or family who have previously instructed the firm you're considering.
I am employed by a busy estate agent office in Sedgefield where we have witnessed a number of leasehold sales put at risk due to short leases. I have received contradictory information from local Sedgefield conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 buyer.
Sedgefield Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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What is the the remaining lease term? In the main the cost for major works tend not to be included within maintenance charges, albeit that a few managing agents in Sedgefield require tenants to pay into a sinking fund and this is used to offset against larger repairs or maintenance. The best form of lease arrangement is a share of the freehold. In this situation the tenants have being in charge if their destiny and notwithstanding that a managing agent is frequently retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.