I am need of leasehold conveyancing for a flat in a relatively new development (seven years old) in Sedgefield. 95% of the appartments have already been occupied. Is it strictly necessary to order local searches for my conveyancing in Sedgefield?

A big part of the Sedgefield legal transfer of property is the conveyancing searches. There are a large number of companies who offer Sedgefield conveyancing searches, as well straight from the local authority. These are known collectively as personal search providers due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authoritative source.

Have just purchased a repossessed house at auction in Sedgefield. Conveyancing is required. What happens now?

Having legally bound yourself to purchase you now have to retain a conveyancing practitioner quickly as you are faced with a fast approaching a drop dead date to complete the deal. Every auction property should have a corresponding legal set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You need to give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in order to complete on the on the contractual date .

Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Sedgefield. Do I collect the keys to the premises on the completion date from my lawyer? If so, I will appoint a High Street conveyancing solicitor in Sedgefield?

On the day of completion you do not need to go to the conveyancers office in Sedgefield. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to collect the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.

Two weeks ago we had a mortgage agreed in principle with Kent Reliance. Sedgefield conveyancing lawyers were selected. How long does it take for Kent Reliance to send the offer to the lawyer?

There is no definitive answer here. Have Kent Reliance completed the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

Various online forums that I have frequented warn that are a common cause of hinderance in Sedgefield house deals. Is this right?

The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Sedgefield.

I have been on the look out for a flat up to £195,000 and identified one close by in Sedgefield I like with a park and station nearby, the downside is that it only has 49 years on the lease. There is not much else in Sedgefield for this price, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.

I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Sedgefield. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Sedgefield are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Sedgefield so you should seriously consider shopping around for a Sedgefield conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.

I inherited a split level flat in Sedgefield, conveyancing having been completed 5 years ago. How much will my lease extension cost? Comparable flats in Sedgefield with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2089

With only 64 years unexpired the likely cost is going to range between £14,300 and £16,400 as well as costs.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.