Frenchay Common leasehold conveyancing Example Support Desk Enquiries
I am intending to rent out my leasehold apartment in Frenchay Common. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease dictates the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Frenchay Common do not prevent subletting altogether – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I have just appointed agents to market my 2 bed flat in Frenchay Common.Conveyancing has not commenced but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear 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 management companies will not acknowledge the buyer unless 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 am a negotiator for a long established estate agency in Frenchay Common where we have experienced a number of leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Frenchay Common conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as 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. This means 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 has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Can you provide any top tips for leasehold conveyancing in Frenchay Common from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Frenchay Common can be bypassed if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
- The majority landlords or Management Companies in Frenchay Common charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Frenchay Common.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £225000 flat in Frenchay Common next Thursday . The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Frenchay Common?
Frenchay Common conveyancing on leasehold flats normally involves administration charges invoiced by management companies :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Frenchay Common
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Frenchay Common - Sample of Queries before Purchasing
-
The answer will be useful as a) areas can result in problems for the building as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will want to have all the details
Are any of leasehold owners in dispute over their service charge liability?
Best to be warned if changing the roof or some other significant cost is due in the near future to be shared amongst the leasehold owners and may well materially increase the the service charges or necessitate a one off invoice.
Other Topics