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Questions and Answers: Bolsover leasehold conveyancing

I am hoping to sign contracts shortly on a garden flat in Bolsover. Conveyancing lawyers inform me that they report fully next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Bolsover should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the property itself but might incorporate a loft or cellar if appropriate.
  • You should be told what constitutes a Nuisance in the lease
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Bolsover please ask your conveyancer in advance of your conveyancing in Bolsover

    • I have just started marketing my basement apartment in Bolsover.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

    It best that you 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 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.

    I own a leasehold flat in Bolsover. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Bolsover who previously acted has long since retired.Do I pay?

    First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Bolsover conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Can you provide any top tips for leasehold conveyancing in Bolsover from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bolsover can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
    • Many landlords or managing agents in Bolsover charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bolsover.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Bolsover leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you dont have the paperwork to hand do not contact the landlord without contacting your conveyancer before hand.
  • A minority of Bolsover leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a replacement share certificate can be a lengthy formality and slows down many a Bolsover home move. Where a duplicate share certificate is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

    • All being well we will complete our sale of a £475000 garden flat in Bolsover on Monday in a week. The management company has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bolsover?

    Bolsover conveyancing on leasehold flats more often than not necessitates the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to sell the property.

    Bolsover Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

      What prohibitions are contained in the Bolsover Lease? This information is useful as a) areas could result in problems in the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the running of the building you will need to have complete disclosure Its a good idea to find out as much as possible regarding the company managing the building as they will either make your living at the property much simpler or much more difficult. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the upkeep of the common parts. Ask other people whether they are happy with them. Finally, find out the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending that money.

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