Examples of recent questions relating to leasehold conveyancing in Dunmow
Having had my offer accepted I require leasehold conveyancing in Dunmow. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Dunmow - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am intending to rent out my leasehold apartment in Dunmow. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Dunmow do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am employed by a long established estate agency in Dunmow where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Dunmow conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
Can you provide any advice for leasehold conveyancing in Dunmow with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Dunmow can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Dunmow state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such works. If you fail to have the consents to hand do not contact the landlord without contacting your lawyer before hand.
Completion in due on the sale of our £225000 flat in Dunmow in 5 days. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Dunmow?
Dunmow conveyancing on leasehold flats more often than not involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I invested in buying a basement flat in Dunmow, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Dunmow with an extended lease are worth £239,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2082
With just 58 years left to run the likely cost is going to span between £23,800 and £27,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
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