I am buying a property for cash in County Durham. I have resided for the previous dozen years in County Durham. Conveyancing searches are a lot of money. Given that I know the road and vicinity intimately must I have all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the County Durham conveyancing searches are at your discretion. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches carried out, but she is duty bound to do this. One thing to consider; if you are intend to sell the house in the future, it could be of importance to your future purchaser what the searches disclose. There are plenty of instances where properties with no practical issues can still reveal negative search results. A good conveyancing solicitor in County Durham will provide you some practical advice in this regard.
I own a freehold residence in County Durham but still charged rent, why is this and what is this?
It is rare for properties in County Durham and has limited impact for conveyancing in County Durham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I need some quick conveyancing in County Durham as I am under pressure to sign on the dotted line within one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not taking a mortgage you are at liberty not to do searches although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in County Durham the following are instances of what can be revealed and adversely impact market value: Enforcement Notices, Outstanding Charges, Outstanding Grants, Road Schemes,...
It has been five months since my purchase conveyancing in County Durham completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in County Durham differ for newly converted properties?
Most buyers of new build residence in County Durham contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because developers in County Durham typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in County Durham or who has acted in the same development.
How does the Landlord & Tenant Act 1954 affect my commercial property in County Durham and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial lessees, granting the a statutory right to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in County Durham