Completed the sale of my flat in Seaham last December but the buyer keeps telephoning daily complaining that his conveyancer needs to hear from myconveyancer. What are the post completion sale formalities following completion?
After completion of your house sale your conveyancer should send the transfer deeds and all additional paperwork to the purchaser's lawyers. Where appropriate, your lawyer must also evidence that the home loan has been discharged to the purchasers lawyers. There are no post completion formalities just for conveyancing in Seaham.
How do I discover of the solicitor handling my conveyancing in Seaham is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Lloyds TSB Bank thus spending £175.00 in another set of legal fees.
Please do take advantage of the search tool on this page. Pick the lender and type ‘Seaham’ or your location and you will discover numerous solicitors located in Seaham or near you.
I'm buying a new build house in Seaham with a loan from Halifax. The builders refused to move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not to tell my solicitor about this side-deal as it may put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the input of my in-laws I had a survey completed on a house in Seaham before appointing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may refuse to give a loan on this type of premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Seaham. Conveyancing will be smoother if you use a solicitor in Seaham especially if they are accustomed to such properties in Seaham.
I have been recommended by a number of estate agents in Seaham to choose a solicitor on your site. Is there a financial upside for Estate Agents to recommend your site rather than a competitor’s?
We don’t make any commission for pointing buyers and sellers to this site. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I am attracted to a two maisonettes in Seaham which have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Seaham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Seaham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Seaham Leasehold Conveyancing - Examples of Queries before buying
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This question is helpful as a) areas can cause problems for the block as the communal areas may start to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will wish to have all the details You will want to find out as much as possible concerning the managing agents as they can either make your life much simpler or problematic. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to day to day matters such as the tidiness of the communal areas. You should not be shy to ask prospective neighbours whether they are happy with their service. On a final note, find out the dates that you are obliged pay the service charge to the relevant party and precisely what you get for your money. Please tell me if there are any major works in the planning that could increase the maintenance charges?