Examples of recent questions relating to leasehold conveyancing in Danbury
Expecting to sign contracts shortly on a leasehold property in Danbury. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Danbury should include some of the following:
- Does the lease prohibit wood flooring?
I am looking at a two apartments in Danbury which have approximately 50 years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Danbury. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field
Last month I purchased a leasehold property in Danbury. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to choosing a Danbury conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Danbury conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Danbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the firm with lease extension legislation?
We expect to complete the sale of our £125000 flat in Danbury in six days. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Danbury?
Danbury conveyancing on leasehold apartments normally involves the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.
Leasehold Conveyancing in Danbury - A selection of Questions you should consider Prior to buying
The answer will be helpful as a) areas could cause problems in the block as the communal areas may begin to deteriorate where repairs remain unpaid b) if the leaseholders have an issue with the running of the building you will wish to know about it
Be sure to discover if there is anything that is prohibited in the lease. By way of example it is reasonably common in Danbury leases that pets are not permitted in in a block in Danbury. If you love the flatin Danbury yet your cat can’t move with you then you have a very difficult determination.
Who manages the block?