Frequently asked questions relating to Emersons Green leasehold conveyancing
I’m about to sell my ground floor apartment in Emersons Green.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?
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 be perfect, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Emersons Green. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Emersons Green are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Emersons Green so you should seriously consider looking for a Emersons Green conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I own a leasehold flat in Emersons Green. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Emersons Green who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Emersons Green conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agent office in Emersons Green where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Emersons Green conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 top tips for leasehold conveyancing in Emersons Green with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Emersons Green can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
- Many freeholders or managing agents in Emersons Green levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for 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 frequent reason for delay in leasehold conveyancing in Emersons Green.
I am the registered owner of a leasehold flat in Emersons Green, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Emersons Green with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2089
You have 68 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.