Should I get my short lease extended before selling?
Buyers are becoming increasingly wary of buying leaseholds with less than 90 years to run because, first, the cost of increasing a leasehold is becoming far more expensive, and, second, mortgage companies are becoming increasingly reticent to lend money to buy leases that have dropped below the 80-year mark (indeed, this will be one of the criteria that they set to ensure their investment is protected).
As a result, buyers will often insist that the leasehold be extended back up to the 99-year or 125-year typical thresholds before going ahead and buying it. So, as the current leaseholder, you will almost certainly be expected to do the legal work required to extend the lease to a level that buyers will be happy with.
What do I do if new and severe damage is found after moving in?
You should reasonably expect the home into which you’re moving to be cleared, clean and without additional damage. Of course, things can happen as removals can chip plaster, scratch or tear wallpaper, etc., but if there is significant damage that was not present before, it would be advisable to talk to your solicitor to see if there is any recourse for you on your seller.
You may also like to think about writing a clause into the contract that money will only be released after a cursory inspection of the premises to confirm that you are happy. This needs to be agreed with the seller’s solicitor, but the expectation is already raised. Beware that, in the chaos of the moving day, you can’t afford to delay things too much, so it’s a fine balance.
Which Great Ayton mortgage lenders do you work with?
Most lenders in Great Ayton are on our Great Ayton solicitors' panel. Lenders and mortgage specialists in Great Ayton include Anglo Castles, 34 Zetland Rd, Loftus, Saltburn-By-The-Sea, TS13 4PW, Clements Finance Ltd, 50 Borough Rd, Darlington, DL1 1SW, and GFR Mortgage & Finance, Meadow Dr, Ormesby, Middlesbrough, TS7 9HD.
Our agent has named the property solicitor. Will it be easier to use this solicitor?
An agent in Great Ayton will be able to influence a law firm to handle your conveyancing they refer a large number of clients to, and can therefore pressure a solicitor to complete sooner. However, if they are paid a referral fee, the agent may prefer to suggest the firm which pays to the largest referral fee, not the law firm with the best reputation.
How much would my searches cost?
Searches in Great Ayton ranges in cost. These searches are charged at cost.
Do I need to get a homebuyer report?
Homeward Legal strongly advise that all buyers arrange an inspection. There are many issues that affect a property, that will not be addressed during the conveyancing process, which include blocked drains and settlement.
We have a found a freehold property to buy. How do we guarantee fast conveyancing?
The key to a fast completion is to use a proactive, diligent lawyer. Additionally, there are numerous things you could do to speed up the legal work, such as, keeping in regular contact with the lawyer, quickly answering your lawyer's questions and getting your mortgage offer in place.
We are planning to sell our jointly owned house at a Yorkshire, North Riding property auction, will your panel get us especially fast Great Ayton solicitors ?
Our property lawyers adopt an extremely proactive modus operandi when completing the conveyancing work.
Homeward Legals conveyancing lawyers attempt to communicate up and down the property chain (sequence of buyers and sellers) and have invested in advanced case and work flow systems to drive through the sale without hitch.