Sample questions relating to Bridport leasehold conveyancing
I want to rent out my leasehold apartment in Bridport. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Bridport do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Looking forward to sign contracts shortly on a ground floor flat in Bridport. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Bridport should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
I am employed by a reputable estate agent office in Bridport where we have experienced a few flat sales jeopardised as a result of short leases. I have been given contradictory information from local Bridport conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 choosing a Bridport conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Bridport conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Bridport conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- Can they put you in touch with client in Bridport who can give a testimonial?
Can you provide any advice for leasehold conveyancing in Bridport from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bridport can be bypassed if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- Some Bridport leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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.
Leasehold Conveyancing in Bridport - Examples of Questions you should consider Prior to buying
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Best to be warned whether changing the roof or some other significant cost is coming up to be shared amongst the tenants and will materially increase the the maintenance fees or necessitate a specific payment.
Are any of leasehold owners in dispute over their service charge liability?
Please inform me if there are any major works in the planning that will likely add a premium to the service fees?
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