Recently asked questions relating to Bishop Auckland leasehold conveyancing
I am hoping to complete next month on a ground floor flat in Bishop Auckland. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Bishop Auckland should include some of the following:
- You should receive a copy of the lease
I’m about to sell my ground floor flat in Bishop Auckland.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – what should I do?
The sensible thing to do is 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. This will smooth the conveyancing process.
Back In 2005, I bought a leasehold flat in Bishop Auckland. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Bishop Auckland who previously acted has long since retired.Do I pay?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Bishop Auckland conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a busy estate agency in Bishop Auckland where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Bishop Auckland conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease 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 proposed purchaser 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 has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
Can you offer any advice when it comes to appointing a Bishop Auckland conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Bishop Auckland conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Bishop Auckland conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions have they conducted in Bishop Auckland in the last twenty four months?
Leasehold Conveyancing in Bishop Auckland - Sample of Questions you should consider Prior to buying
Does the lease have in excess of 80 years left?
What is the service charge and ground rent on the apartment?
This question is useful as a) areas may result in problems in the block as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have an issue with the running of the building you will want to know about it