Sample questions relating to Dorchester leasehold conveyancing
I have just started marketing my 2 bed flat in Dorchester.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is pay 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.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Dorchester. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Dorchester ?
The majority of houses in Dorchester are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Dorchester in which case you should be shopping around for a Dorchester conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
Back In 2002, I bought a leasehold flat in Dorchester. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Dorchester who previously acted has long since retired.Any advice?
First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. You do not need to instruct a Dorchester conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Dorchester. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
We expect to complete our sale of a £125000 apartment in Dorchester in just under a week. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Dorchester?
Dorchester conveyancing on leasehold flats usually necessitates administration charges invoiced by management companies :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Dorchester
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a studio flat in Dorchester, conveyancing was carried out 2000. Can you work out an approximate cost of a lease extension? Corresponding properties in Dorchester with a long lease are worth £248,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease finishes on 21st October 2076
With 50 years left to run we estimate the premium for your lease extension to span between £37,100 and £42,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
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