Questions and Answers: Chaddesden leasehold conveyancing
Having checked my lease I have discovered that there are only 62 years left on my flat in Chaddesden. I now want to get lease extension but my landlord is absent. What options are available to me?
If you qualify, 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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent should be helpful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Chaddesden.
I am hoping to exchange soon on a leasehold property in Chaddesden. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Chaddesden should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Are you allowed to have a pet in the flat?
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- 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 rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
I have just appointed agents to market my 2 bed flat in Chaddesden.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – Do I pay up?
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. Having a clear account will assist your cause and will leave you no worse off financially.
Do you have any advice for leasehold conveyancing in Chaddesden with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Chaddesden can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- Many landlords or managing agents in Chaddesden levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Chaddesden.
- A minority of Chaddesden leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
- If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
- If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Organising a new share certificate is often a time consuming formality and delays many a Chaddesden conveyancing transaction. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
All being well we will complete the sale of our £ 500000 flat in Chaddesden next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Chaddesden?
For most leasehold sales in Chaddesden conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in Chaddesden
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Chaddesden, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Chaddesden with a long lease are worth £237,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2081
With only 55 years left to run we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.