Burnham On Crouch leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Burnham On Crouch. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Burnham On Crouch - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Due to sign contracts shortly on a basement flat in Burnham On Crouch. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Burnham On Crouch should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
What advice can you give us when it comes to choosing a Burnham On Crouch conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Burnham On Crouch conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Burnham On Crouch conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How familiar is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Burnham On Crouch from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Burnham On Crouch can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Burnham On Crouch state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the consents in place you should not contact the landlord without contacting your lawyer before hand.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 garden flat in Burnham On Crouch in six days. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Burnham On Crouch?
Burnham On Crouch conveyancing on leasehold maisonettes nine out of ten times involves administration charges raised by freeholders :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Burnham On Crouch
- 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 basement flat in Burnham On Crouch, conveyancing formalities finalised 5 years ago. 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 flats in Burnham On Crouch with an extended lease are worth £173,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2100
With 79 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.