Sample questions relating to Alderley Edge leasehold conveyancing
I only have Seventy years remaining on my flat in Alderley Edge. I am keen to get lease extension but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the lessor. In some cases an enquiry agent would be helpful to try and locate and to produce an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Alderley Edge.
Looking forward to complete next month on a ground floor flat in Alderley Edge. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Alderley Edge should include some of the following:
- Defining your legal entitlements in respect of common areas in the building.For example, does the lease provide for a right of way over a path or staircase?
I have just appointed agents to market my 2 bed apartment in Alderley Edge.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is clear the invoice 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold flat in Alderley Edge. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Alderley Edge who previously acted has now retired.Any advice?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Alderley Edge conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Alderley Edge with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Alderley Edge can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
- Many landlords or managing agents in Alderley Edge levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Alderley Edge.
I acquired a basement flat in Alderley Edge, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Alderley Edge with a long lease are worth £172,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2101
With 78 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.