Sample questions relating to Chalfont St Peter leasehold conveyancing
I have just started marketing my 2 bed apartment in Chalfont St Peter.Conveyancing has not commenced but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
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 managing agents 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.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Chalfont St Peter. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Chalfont St Peter are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Chalfont St Peter in which case you should be looking for a Chalfont St Peter conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
I am a negotiator for a long established estate agency in Chalfont St Peter where we have witnessed a few leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Chalfont St Peter conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 buyer.
What are your top tips when it comes to appointing a Chalfont St Peter conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Chalfont St Peter conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Chalfont St Peter 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:
- If the firm is not ALEP accredited then why not?
I am the leaseholder of a a ground floor purpose built flat in Chalfont St Peter. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
You certainly can. We are happy to put you in touch with a Chalfont St Peter conveyancing firm who can help.
An example of a Lease Extension decision for a Chalfont St Peter premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired lease term was 71 years.
When it comes to leasehold conveyancing in Chalfont St Peter what are the most frequent lease problems?
Leasehold conveyancing in Chalfont St Peter is not unique. All leases is drafted differently and drafting errors can result in certain sections are missing. 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 premises
- 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.