Completed the sale of my flat in South Shields last July but the buyer keeps texting every few hours complaining that their lawyer is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Following your house sale your conveyancer is obliged to deliver the transfer documentation and all additional paperwork to the purchaser's lawyers. If applicable, your conveyancer should also evidence that the mortgage has been paid off to the purchasers lawyers. There are no post completion formalities unique to conveyancing in South Shields.
Should my lawyer be raising enquiries concerning flooding as part of the conveyancing in South Shields.
The risk of flooding is if increasing concern for lawyers dealing with homes in South Shields. Plenty of people will acquire a property in South Shields, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or by their lawyers which can give them a better appreciation of the risks in South Shields. The conventional set of property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to determine if the premises has historically flooded. If flooding has previously occurred which is not disclosed by the owner, then a purchaser may bring a compensation claim resulting from an inaccurate response. A purchaser’s solicitors should also commission an enviro report. This should reveal whether there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
Do I need to be suspicious by brokers that I am dealing with are suggesting an internet conveyancing firm as opposed to a local South Shields conveyancing company?
As is the case with many service providers, often suggestions from connections can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing matter; estate agents, financial adviser and lenders may put forward solicitors to choose. Sometimes the solicitors might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You have the right to choose your preferred lawyer. Don't forget that some mortgage providers specify a panel list of law firms you are obliged to use for the lender related work in your home move.
Completion is due on the sale of our £125,000 maisonette in South Shields in 5 days. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in South Shields?
South Shields conveyancing on leasehold maisonettes often necessitates the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to assist. They may charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.
I purchased a 1st floor flat in South Shields, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in South Shields with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2097
With just 72 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.
The figure 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 detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
My a dozen years ago. He has been wed, divorced and in recent months got married again. He will be marketing the flat this May. I suspect that he will just be need to supply copies of his marriage certificates to the lawyer but he is anxious it will frustrate the conveyancing. Should he appoint a solicitor to update the Land Registry information for the house?
It is not absolutely necessary to update the title for the property as long as you have the proof needed to demonstrate how the name change has come about.
The buyer’s property lawyer should examine the land registry entries and request evidence to establish the name change e.g. marriage documentation.