Castleton leasehold conveyancing Example Support Desk Enquiries
Due to sign contracts shortly on a ground floor flat in Castleton. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Castleton should include some of the following:
- You need to be told what counts as a Nuisance in the lease
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- You should have a good understanding of the insurance provisions
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- Responsibility for repairing the window frames
I have just started marketing my basement apartment in Castleton.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is 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 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.
Back In 2002, I bought a leasehold house in Castleton. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Castleton who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Castleton conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a busy estate agent office in Castleton where we have witnessed a number of flat sales put at risk due to short leases. I have received conflicting advice from local Castleton conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 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 sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Completion in due on our sale of a £ 275000 garden flat in Castleton next Friday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> 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 leasehold conveyance in Castleton?
Castleton conveyancing on leasehold flats normally requires the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to complete the sale of your home.
Castleton Leasehold Conveyancing - Examples of Queries before buying
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Its a good idea to discover as much as you can concerning the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the upkeep of the common parts. Don't be shy to ask other people what they think of their service. On a final note, be sure you know the dates that you are obliged pay the service charge to the appropriate party and specifically what it includes.