Fixed-fee leasehold conveyancing in Farnham Common:

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Examples of recent questions relating to leasehold conveyancing in Farnham Common

My fiance and I may need to sub-let our Farnham Common basement flat for a while due to a new job. We instructed a Farnham Common conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Even though your previous Farnham Common conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the property. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or some other party before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Expecting to complete next month on a leasehold property in Farnham Common. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Farnham Common should include some of the following:

  • You should receive a copy of the lease
  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from renting out the flat, or having a home office for business
  • You should be told what constitutes a Nuisance in the lease
  • Changes to the flat (alterations and additions)
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Farnham Common please enquire of your conveyancer in advance of your conveyancing in Farnham Common

    • I’m about to sell my 2 bed flat in Farnham Common.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

    It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I've recently bought a leasehold property in Farnham Common. 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. Strange as it may seem, 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).

    Do you have any top tips for leasehold conveyancing in Farnham Common from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Farnham Common can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • Many freeholders or managing agents in Farnham Common levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack 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 frequent cause of delay in leasehold conveyancing in Farnham Common.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Farnham Common leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. If you dont have the approvals to hand do not contact the landlord without checking with your lawyer first.
  • Some Farnham Common leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unsettled.

    • Leasehold Conveyancing in Farnham Common - Examples of Questions you should consider Prior to Purchasing

      The best form of lease arrangement is a share of the freehold. In this scenario the tenants enjoy control and notwithstanding that a managing agent is usually retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Does this lease have more than 85 years left? Who are the managing agents?

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