Examples of recent questions relating to leasehold conveyancing in Emersons Green
I have just started marketing my garden flat in Emersons Green.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – Do I pay up?
It best that you discharge 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 managing agents 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. 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 tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Emersons Green. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Emersons Green are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Emersons Green so you should seriously consider looking for a Emersons Green conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.
I work for a reputable estate agency in Emersons Green where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Emersons Green conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. 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.
An alternative approach is 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 purchaser.
What are your top tips when it comes to appointing a Emersons Green conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Emersons Green conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Emersons Green conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
Can you provide any top tips for leasehold conveyancing in Emersons Green with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Emersons Green can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
- Many freeholders or managing agents in Emersons Green charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Emersons Green.
Leasehold Conveyancing in Emersons Green - A selection of Questions you should ask before buying
Are any of leasehold owners in dispute over their service charge payments?
Be sure to enquire if there are any onerous restrictions in the lease. For instance it is fairly common in Emersons Green leases that pets are not allowed in in a block in Emersons Green. If you like the flatin Emersons Green however your cat can’t make the move with you then you will be presented with a difficult compromise.
You should want to discover as much as possible regarding the company managing the building as they will either make life much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily issues such as the upkeep of the common parts. Ask prospective neighbours what they think of them. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money.