Fixed-fee leasehold conveyancing in Coleford:

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Coleford leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Coleford. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Coleford - then the leasehold title will always include the basic details 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.

Due to complete next month on a basement flat in Coleford. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Coleford should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the property. This will be the apartment itself but could also incorporate a roof space or basement if applicable.
  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Changes to the flat (alterations and additions)
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Coleford please enquire of your conveyancer in advance of your conveyancing in Coleford

    • I’m about to sell my 2 bed flat in Coleford.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?

    It best that you 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. 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 appointing a Coleford conveyancing practice to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Coleford conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Coleford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm conducted in Coleford in the last 12 months?

    • Do you have any top tips for leasehold conveyancing in Coleford with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Coleford can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Coleford state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the consents to hand do not contact the landlord without contacting your lawyer first.
  • Some Coleford leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming process and slows down many a Coleford home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Coleford - Sample of Questions you should ask Prior to buying

      How much is the ground rent and service charge? The best form of lease arrangement is a share of the freehold. In this situation the lessees have control and notwithstanding that a managing agent is frequently retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you discover if the the lease contains any adverse restrictions in the lease. For instance it is fairly common in Coleford leases that pets are not allowed in certain buildings in Coleford. If you love the apartmentin Coleford however your cat can’t move with you then you have a very hard compromise.

    Other Topics

    Lease Extensions in Coleford