Examples of recent questions relating to leasehold conveyancing in Goole
Due to exchange soon on a ground floor flat in Goole. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Goole should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I have just started marketing my garden flat in Goole.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 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 work for a long established estate agent office in Goole where we see a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Goole conveyancing solicitors. Please can you shed some light as to 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 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 at the same time as completion of the disposal of the property.
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.
All being well we will complete our sale of a £225000 flat in Goole in 5 days. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Goole?
Goole conveyancing on leasehold apartments often requires the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to sell the property.
Are there frequently found deficiencies that you come across in leases for Goole properties?
Leasehold conveyancing in Goole is not unique. All leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Chelsea Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.
Goole Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
The answer will be important as a) areas may cause problems for the block as the communal areas may begin to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will wish to have complete disclosure
How much is the ground rent and service charge?
What is the length of the lease?