Top Five Questions relating to Bolsover leasehold conveyancing
I have recently realised that I have Fifty years remaining on my lease in Bolsover. I now wish to get lease extension but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to find the lessor. For most situations an enquiry agent would be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the application to the County Court overseeing Bolsover.
Estate agents have just been given the go-ahead to market my 2 bed flat in Bolsover.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is clear 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 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've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Bolsover. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bolsover ?
The majority of houses in Bolsover are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Bolsover so you should seriously consider looking for a Bolsover conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I am a negotiator for a long established estate agency in Bolsover where we see a few leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local Bolsover conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 purchaser.
Completion in due on the disposal of our £275000 garden flat in Bolsover on Monday in a week. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Bolsover?
Bolsover conveyancing on leasehold maisonettes usually necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.
Bolsover Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders benefit from being in charge if their destiny and although a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.
Be sure to investigate if there are any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in certain buildings in Bolsover. If you like the apartmentin Bolsover yet your dog can’t live with you then you will be faced difficult determination.
How many of the leaseholders are in arrears for their maintenance charge payments?