Top Five Questions relating to Crook leasehold conveyancing
I only have Fifty years left on my flat in Crook. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent would be helpful to conduct investigations and to produce a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Crook.
I’m about to sell my basement apartment in Crook.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – Do I pay up?
It best that you 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 unless 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 am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Crook. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Crook are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Crook so you should seriously consider looking for a Crook conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As 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 landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.
Can you provide any advice for leasehold conveyancing in Crook from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Crook can be bypassed if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Crook leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals to hand do not communicate with the landlord without checking with your conveyancer in advance.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £275000 flat in Crook next week. The management company has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Crook?
Crook conveyancing on leasehold apartments often necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be content to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.
I inherited a 2 bed flat in Crook, conveyancing having been completed 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Crook with an extended lease are worth £267,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2088
With 67 years unexpired we estimate the price of your lease extension to range between £11,400 and £13,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.