Top Five Questions relating to Grange Over Sands leasehold conveyancing
There are only 62 years remaining on my lease in Grange Over Sands. I am keen to get lease extension but my landlord is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole an enquiry agent should be helpful to try and locate and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Grange Over Sands.
I have just started marketing my garden apartment in Grange Over Sands.Conveyancing has not commenced but I have just received a 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. This will smooth the conveyancing process.
Can you offer any advice when it comes to choosing a Grange Over Sands conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Grange Over Sands conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Grange Over Sands conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If the firm is not ALEP accredited then why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £300000 garden flat in Grange Over Sands next Monday . The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Grange Over Sands?
Grange Over Sands conveyancing on leasehold maisonettes normally requires the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
When it comes to leasehold conveyancing in Grange Over Sands what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Grange Over Sands. All leases are individual and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts 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
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Norwich and Peterborough Building Society, and TSB 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 defective they may refuse to provide security, forcing the purchaser to pull out.
Grange Over Sands Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
It is important to be aware whether fixing the lift or some other significant cost is due shortly that will be shared between the leasehold owners and will materially increase the the service charges or require a one time invoice.
Is anyone aware of any major works in the near future that will likely add a premium to the maintenance fees?
You should be aware that where the lease has no more than 80 years it will impact the salability of the flat. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Grange Over Sandslease extensions you will need to own the premises for 24 months in order to be eligible to extend the lease.