Recently asked questions relating to Crawley Down leasehold conveyancing
There are only Sixty One years left on my lease in Crawley Down. I now wish to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the landlord. In some cases a specialist may be helpful to try and locate and to produce a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Crawley Down.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Crawley Down. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Crawley Down are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Crawley Down in which case you should be looking for a Crawley Down conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
I am employed by a busy estate agent office in Crawley Down where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Crawley Down conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What advice can you give us when it comes to appointing a Crawley Down conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Crawley Down conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Crawley Down conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- Can they put you in touch with client in Crawley Down who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £150000 garden flat in Crawley Down on Wednesday in a week. The management company has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Crawley Down?
Crawley Down conveyancing on leasehold flats normally requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you if you want to complete the sale of your home.
I bought a split level flat in Crawley Down, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Crawley Down with a long lease are worth £248,000. The ground rent is £50 per annum. The lease ends on 21st October 2090
You have 65 years unexpired we estimate the premium for your lease extension to span between £17,100 and £19,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
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