Frequently asked questions relating to Colwyn Bay leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Colwyn Bay. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Colwyn Bay - 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.
I’m about to sell my ground floor flat in Colwyn Bay.Conveyancing has not commenced but I have just received a yearly service charge demand – what should I do?
It best that you discharge 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. This will smooth the conveyancing process.
What advice can you give us when it comes to appointing a Colwyn Bay 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 Colwyn Bay conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Colwyn Bay conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- If they are not ALEP accredited then what is the reason?
Do you have any advice for leasehold conveyancing in Colwyn Bay with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Colwyn Bay can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Colwyn Bay state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such works. Should you fail to have the approvals to hand do not contact the landlord without checking with your solicitor in the first instance.
Completion in due on the sale of our £425000 garden flat in Colwyn Bay in 10 days. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Colwyn Bay?
Colwyn Bay conveyancing on leasehold maisonettes often necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is demanded should you wish to sell the property.
Leasehold Conveyancing in Colwyn Bay - A selection of Queries Prior to buying
What is the yearly maintenance fee and ground rent?
Make sure you discover if there is anything that is prohibited in the lease. For instance it is fairly common in Colwyn Bay leases that pets are not allowed in certain buildings in Colwyn Bay. If you love the apartmentin Colwyn Bay however your cat is not allowed to live with you then you will be faced difficult determination.
Best to be warned if fixing the lift or some other major work is due shortly to be shared by the leasehold owners and could well materially increase the the service costs or result in a specific invoice.