Common questions relating to Borth leasehold conveyancing
Due to exchange soon on a studio apartment in Borth. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Borth should include some of the following:
- Are pets allowed in the flat?
I have just started marketing my ground floor apartment in Borth.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?
The sensible thing to do is pay 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 managing agents will not acknowledge the buyer until 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.
My wife and I purchased a leasehold house in Borth. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Borth who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Borth conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to choosing a Borth conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Borth conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Borth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Borth with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Borth can be bypassed where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Borth leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such changes. Where you dont have the approvals in place you should not communicate with the landlord without checking with your solicitor in advance.
I bought a 1st floor flat in Borth, conveyancing was carried out 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Borth with over 90 years remaining are worth £232,000. The ground rent is £50 per annum. The lease ends on 21st October 2094
With 72 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.