Examples of recent questions relating to leasehold conveyancing in Brixham
Estate agents have just been given the go-ahead to market my garden flat in Brixham.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?
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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Brixham. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Brixham ?
Most houses in Brixham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Brixham so you should seriously consider shopping around for a Brixham conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will appraise you on the various issues.
Can you offer any advice when it comes to choosing a Brixham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Brixham conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Brixham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If the firm is not ALEP accredited then what is the reason?
- What volume of lease extensions has the firm completed in Brixham in the last 12 months?
If all goes to plan we aim to complete the sale of our £ 275000 garden flat in Brixham in 8 days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Brixham?
Brixham conveyancing on leasehold maisonettes usually involves administration charges levied by management companies :
- Addressing pre-contract enquiries
- Where consent is required before sale in Brixham
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the frequently found defects that you see in leases for Brixham properties?
There is nothing unique about leasehold conveyancing in Brixham. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.
I own a basement flat in Brixham, conveyancing having been completed 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Brixham with over 90 years remaining are worth £249,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2080
With 54 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.