Sample questions relating to Chalfont St Peter leasehold conveyancing
I am on look out for some leasehold conveyancing in Chalfont St Peter. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Chalfont St Peter - then the leasehold title will always include the short particulars 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.
I’m about to sell my 2 bed apartment in Chalfont St Peter.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – 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 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.
What are your top tips when it comes to choosing a Chalfont St Peter conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (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 conveyancing. We suggested that you talk with several firms including non Chalfont St Peter conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If they are not ALEP accredited then what is the reason?
Can you provide any advice for leasehold conveyancing in Chalfont St Peter from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Chalfont St Peter can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
- Many freeholders or Management Companies in Chalfont St Peter 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 information 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 usual cause of frustration in leasehold conveyancing in Chalfont St Peter.
I inherited a first floor 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 amount due for a lease extension?
Absolutely. We can put you in touch with a Chalfont St Peter conveyancing firm who can help.
An example of a Lease Extension case 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 related to 3 flats. The the unexpired term as at the valuation date was 71 years.
Are there frequently found defects that you witness in leases for Chalfont St Peter properties?
There is nothing unique about leasehold conveyancing in Chalfont St Peter. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections 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
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.