Questions and Answers: Chipping Campden leasehold conveyancing
I’m about to sell my 2 bed apartment in Chipping Campden.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear 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.
I own a leasehold flat in Chipping Campden. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Chipping Campden who previously acted has now retired.What should I do?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Chipping Campden conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to finding a Chipping Campden conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Chipping Campden conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Chipping Campden 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 helpful:
- How experienced is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Chipping Campden from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Chipping Campden can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
- The majority landlords or managing agents in Chipping Campden levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Chipping Campden.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 flat in Chipping Campden on Tuesday in a week. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Chipping Campden?
Chipping Campden conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.
Chipping Campden Leasehold Conveyancing - Examples of Queries before buying
It would be a good idea to discover if there is anything that is prohibited in the lease. For instance it is reasonably common in Chipping Campden leases that pets are not allowed in certain buildings in Chipping Campden. If you like the apartmentin Chipping Campden yet your dog is not allowed to live with you then you will be presented with a difficult decision.
Best to be warned whether window replacement or some other significant cost is due in the foreseeable future to be shared by the leaseholders and may well dramatically impact the level of the maintenance fees or necessitate a one off payment.
Where a Chipping Campden lease has fewer than 80 years it will have adverse implications on the salability of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Chipping Campdenlease extensions you will be required to have been the owner of the premises for two years before you are entitled to extend the lease.