Questions and Answers: Dartmouth leasehold conveyancing
Estate agents have just been given the go-ahead to market my 2 bed flat in Dartmouth.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 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 seems to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Dartmouth. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Dartmouth are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Dartmouth so you should seriously consider looking for a Dartmouth conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.
Can you provide any advice for leasehold conveyancing in Dartmouth from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Dartmouth can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
- Many landlords or Management Companies in Dartmouth charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Dartmouth.
We expect to complete the disposal of our £375000 garden flat in Dartmouth in 8 days. The management company has quoted £324 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Dartmouth?
Dartmouth conveyancing on leasehold apartments ordinarily results in administration charges invoiced by managing agents :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Dartmouth
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Dartmouth lease defective?
Leasehold conveyancing in Dartmouth is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
Dartmouth Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
This information is useful as a) areas may cause problems for the block as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the running of the building you will wish to have all the details
Are any of leasehold owners in dispute over their service charge payments?
What is the length of the lease?