The owners have very pushy sellers who has insisted on a preliminary agreement with a non-refundable deposit 6,000. Are such arrangements the norm for County Durham conveyancing transactions?
This kind of contract is unusual in County Durham, conveyancers are not keen on them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. In addition, there is no certainty that just because the seller has entered into a lock out contract they will sell to you. They may be in contravention of the agreement if they receive a big enough offer to do so because an aggrieved party with the benefit of a lockout agreement will still have to show losses as a consequence of the breach and this may not equate the extra amount that your vendor may obtain by reneging on the agreement, however morally condemnable that may be.
We're in County Durham, FTBs purchasing with a mortgage (lender is Yorkshire BS , and our solicitor is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should our conveyancer be asking questions regarding flooding as part of the conveyancing in County Durham.
The risk of flooding is if increasing concern for solicitors dealing with homes in County Durham. Some people will purchase a property in County Durham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a various searches that may be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in County Durham. The standard completed inquiry forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to discover whether the premises has ever been flooded. If the property has been flooded in past which is not disclosed by the seller, then a buyer could issue a compensation claim resulting from an inaccurate response. The purchaser’s conveyancers should also conduct an environmental report. This will indicate whether there is a recorded flood risk. If so, additional inquiries should be initiated.
My wife and I own a terraced Edwardian property in County Durham. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in County Durham and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who conducted the conveyancing.
Due to the advice of my in-laws I had a survey completed on a property in County Durham ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in County Durham. Conveyancing will be smoother if you use a solicitor in County Durham especially if they are accustomed to such properties in County Durham.
I am looking to sell my property. My previous conveyancers has retired. I am in need of a recommendation of a conveyancing firm. Im based in County Durham if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in County Durham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.