Fixed-fee leasehold conveyancing in Bedwas:

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Examples of recent questions relating to leasehold conveyancing in Bedwas

I’m about to sell my garden flat in Bedwas.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – what should I do?

It best that you discharge 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 management companies 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 am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Bedwas. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Bedwas ?

The majority of houses in Bedwas are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Bedwas in which case you should be shopping around for a Bedwas conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.

I am tempted by the attractive purchase price for a two flats in Bedwas both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Bedwas from the point of view of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Bedwas can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Bedwas state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. Where you dont have the paperwork in place you should not contact the landlord without checking with your solicitor in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may have to bite the bullet and pay 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 details of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate is often a time consuming formality and delays many a Bedwas conveyancing transaction. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • If all goes to plan we aim to complete the disposal of our £300000 maisonette in Bedwas on Friday in a week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bedwas?

    Bedwas conveyancing on leasehold maisonettes normally requires the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are entitled levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Bedwas Leasehold Conveyancing - Examples of Queries before Purchasing

      How many years remain on the lease? Does the lease contain onerous restrictions? What is the maintenance charge and ground rent on the apartment?

    Other Topics

    Lease Extensions in Bedwas