Bridport leasehold conveyancing: Q and A’s
Planning to complete next month on a ground floor flat in Bridport. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bridport should include some of the following:
- Defining your rights in respect of the communal areas in the building.For instance, does the lease include a right of way over an accessway or staircase?
Estate agents have just been given the go-ahead to market my garden flat in Bridport.Conveyancing has not commenced but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 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.
I've recently bought a leasehold flat in Bridport. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to choosing a Bridport conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Bridport conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend 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:
- How experienced is the firm with lease extension legislation?
Do you have any advice for leasehold conveyancing in Bridport with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bridport can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Bridport leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you dont have the paperwork in place you should not communicate with the landlord without checking with your conveyancer in the first instance.
Leasehold Conveyancing in Bridport - A selection of Queries Prior to Purchasing
How much is the service charge and ground rent on the apartment?
For many Bridport leaseholds the outlay for major works tend not to be built into the service charges, albeit that some managing agents in Bridport ask leaseholders to pay into a sinking fund and this is used to offset against larger works.
Be sure to investigate if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being allowed in certain buildings in Bridport. If you love the propertyin Bridport but your cat is not allowed to move with you then you have a very difficult compromise.