Sample questions relating to Chipping Sodbury leasehold conveyancing
Expecting to exchange soon on a ground floor flat in Chipping Sodbury. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Chipping Sodbury should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
I’m about to sell my ground floor apartment in Chipping Sodbury.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold flat in Chipping Sodbury. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Chipping Sodbury who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to instruct a Chipping Sodbury conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to appointing a Chipping Sodbury conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Chipping Sodbury conveyancing firm) 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 Chipping Sodbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £125000 flat in Chipping Sodbury in just under a week. The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Chipping Sodbury?
For the majority of leasehold sales in Chipping Sodbury 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-contract enquiries
- Where consent is required before sale in Chipping Sodbury
- 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 1 bedroom flat in Chipping Sodbury, conveyancing formalities finalised 1998. How much will my lease extension cost? Similar properties in Chipping Sodbury with a long lease are worth £202,000. The ground rent is £60 levied per year. The lease ends on 21st October 2079
With just 58 years left to run we estimate the price of your lease extension to be between £22,800 and £26,400 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.