Top Five Questions relating to Brixham leasehold conveyancing
Due to sign contracts shortly on a basement flat in Brixham. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Brixham should include some of the following:
- The physical extent of the demise. This will be the apartment itself but could also include a loft or cellar if applicable.
I have just started marketing my garden apartment in Brixham.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear 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 managing agents 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 house in Brixham. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Brixham who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR 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 instruct a Brixham conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a long established estate agency in Brixham where we have witnessed a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Brixham conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
All being well we will complete the sale of our £475000 maisonette in Brixham next Thursday . The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Brixham?
For most leasehold sales in Brixham conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence 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
I bought a ground floor flat in Brixham, conveyancing was carried out 1996. Can you work out an approximate cost of a lease extension? Similar flats in Brixham with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2089
With just 64 years remaining on your lease we estimate the price of your lease extension to range between £16,200 and £18,600 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
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