Common questions relating to Buckhurst Hill leasehold conveyancing
There are only Fifty years unexpired on my lease in Buckhurst Hill. I am keen to extend my lease but my freeholder is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the landlord. In some cases an enquiry agent would be useful to try and locate and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Buckhurst Hill.
I have just started marketing my garden flat in Buckhurst Hill.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.
Can you provide any advice for leasehold conveyancing in Buckhurst Hill from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Buckhurst Hill can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
- The majority landlords or Management Companies in Buckhurst Hill levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Buckhurst Hill.
We expect to complete the sale of our £375000 garden flat in Buckhurst Hill next Tuesday . The freeholder has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Buckhurst Hill?
Buckhurst Hill conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to sell the property.
I am the proprietor of a second floor flat in Buckhurst Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
Absolutely. We can put you in touch with a Buckhurst Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Buckhurst Hill flat is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The unexpired term was 69.26 years.
In relation to leasehold conveyancing in Buckhurst Hill what are the most common lease defects?
Leasehold conveyancing in Buckhurst Hill is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses 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 building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.