Common questions relating to Audlem leasehold conveyancing
I am on look out for some leasehold conveyancing in Audlem. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Audlem - 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.
There are only Seventy years remaining on my lease in Audlem. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. On the whole a specialist may be useful to try and locate and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Audlem.
I am attracted to a couple of apartments in Audlem both have about fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Audlem. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
What advice can you give us when it comes to finding a Audlem conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Audlem conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Audlem conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How many lease extensions have they conducted in Audlem in the last twenty four months?
Can you provide any top tips for leasehold conveyancing in Audlem with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Audlem can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
- Many landlords or managing agents in Audlem charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Audlem.
Audlem Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
Be sure to investigate if there is anything that is prohibited in the lease. For instance it is very common in Audlem leases that pets are not allowed in certain buildings in Audlem. If you love the apartmentin Audlem yet your cat is not allowed to move with you then you will be faced hard determination.
Its a good idea to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the common parts. You should not be afraid to ask other tenants if they are happy with their service. On a final note, find out the dates that you are obliged pay the maintenance charge to the managing agents and precisely how they are spending the funds.
For many Audlem leaseholds the outlay for major works are not built into the maintenance charges, albeit that some managing agents in Audlem require leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance.