I am acquiring a property without a mortgage in Shildon. I have been residing for the previous Seventeen years in Shildon. Conveyancing searches are a lot of money. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?

In the absence of a mortgage, then almost all of the Shildon conveyancing searches are non-obligatory. Your lawyer will try and sway you, no-doubt strongly, that you should have searches completed, but he is duty bound to take that path of encouragement . Do bear in mind; if you are likely to sell the house in the future, it will be of interest to your prospective buyer what the searches disclose. Sometimes properties with no practical issues can still show up unfavourable search results. A good conveyancing solicitor in Shildon should be able to give you some practical guidance in this regard.

I am buying a semi-detached house in Shildon. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Shildon you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Shildon.

Should our lawyer be making enquiries about flooding as part of the conveyancing in Shildon.

Flooding is a growing risk for lawyers carrying out conveyancing in Shildon. Some people will acquire a property in Shildon, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Lawyers are not best placed to offer advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Shildon. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to determine if the premises has historically flooded. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser could issue a legal claim for losses stemming from an misleading reply. A buyer’s lawyers should also conduct an environmental search. This should disclose if there is a recorded flood risk. If so, additional investigations will need to be conducted.

I am buying a new build flat in Shildon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Shildon

Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.

I am hoping to complete next month on a leasehold property in Shildon. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Shildon should include some of the following:

Whether your lease provides for a sinking fund for major repairs? Additions to the flat The length of the lease term. You should receive guidance as what happens when the lease expires, and informed of the importance of the 80 year mark Responsibility for maintaining the window frames Responsibility to repair and maintain the building. It is essential that you know which party is duty bound to repair and maintenance of every part of the building

I acquired a garden flat in Shildon, conveyancing having been completed 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Shildon with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2093

With just 69 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account 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.