Leasehold Conveyancing in Acocks Green - Get a Quote from the leasehold experts approved by your lender

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Acocks Green leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Acocks Green. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Acocks Green - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have just started marketing my basement apartment in Acocks Green.Conveyancing has not commenced but I have just had a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am a negotiator for a busy estate agency in Acocks Green where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Acocks Green conveyancing solicitors. Could you clarify whether the vendor of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to appointing a Acocks Green conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Acocks Green conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Acocks Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How experienced is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Acocks Green with the purpose of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Acocks Green can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Acocks Green state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you fail to have the consents to hand do not contact the landlord without contacting your lawyer in advance.
  • Some Acocks Green leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Acocks Green Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

      Best to be warned if changing the roof or some other major work is due in the near future that will be shared amongst the tenants and may well dramatically increase the the maintenance costs or result in a one off payment. What is the name of the managing agents? Are any of leasehold owners in arrears of their service charge payments?

    Other Topics

    Lease Extensions in Acocks Green