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.
Do I need a chancel search? I am purchasing near parish land in North Walsham.
The judgement in a landmark case in 2003 reaffirmed that 'lay rectors' of property must contribute towards the cost of church repairs. Liability has the potential to impact the value of a North Walsham property, but an indemnity policy may be available to protect the new owners. A conveyancing solicitor will be able to advise as to whether a chancel search is necessary, and recommend suitable insurance. North Walsham ecclesiastical properties where a chancel search may be necessary include St Nicholas.
If I’m renting out rooms in my house, do I need to appoint a solicitor?
No, you don’t, because there is no legal imperative for you to do so. However, it’s not as straightforward as simply leasing out a room to a renter because there are certain provisions that must be met in order to protect you as the renter and the person renting the room.
This depends on the room and where it is in the property, state of the plumbing, insurance, and a number of other factors. You’ll also need to draw up a tenancy agreement to ensure demarcation and rights for both parties. While you won’t necessarily need a solicitor involved, it’s worth contacting a letting agency who will have the experience and knowledge to ensure you have everything in place. Be aware that any advice you seek from professionals may come with a fee, so it would be worth shopping around first.
We are planning to buy in North Walsham. Are there many areas of conservation?
Conservation areas secure areas of 'special architectural and historic interest'. Your conveyancing lawyer will be able to offer more information and discuss what specific restrictions are in place.
At what point should I reserve the home removal service?
The best advice is for home movers to wait before agreeing the removals company until you and the other side has fixed a home moving date which occurs once final contracts are signed. Try Winter's Removals, 12A Folgate Rd, North Walsham, NR28 0AJ on 01692 407669.
The vendor has added unsightly windows to the house in North Walsham which might violate nearby conservation area criteria
A property solicitor will carry out searches to check if your proposed purchase is affected by a conservation area, and if so, whether any modifications have the appropriate permissions. In the absence of any appropriate consents the solicitor will give you professional advice on the best alternatives, which include requesting from North Norfolk council or seeking cover from an indemnity policy.
Is there a benefit to going to auction over a standard estate agent sale?
The majority of homes sold via an estate agent will be in a reasonable condition and usually modernised, whereas auction properties will often require a lot of modernisation or structural work before it can be lived in. That’s not to say you can’t use either for your sale, of course, irrespective of the state of the property.
Whichever option you choose, you should line up a focused, proactive solicitor on a fixed-fee agreement protected by a ‘No Completion, No Fee’ guarantee. You should appoint them as early as possible, too, so that the conveyancing work can start immediately – this is particularly important for auctions, as there is usually a four-week completion stipulation on its sale.
At Homeward Legal, we offer you’re the best quality service on all types of sale and purchase, including auctions, for competitively low fees protected by our 'No Completion, No Fee' guarantee. Try our online quote calculator or call our team on 0800 038 6699.