Questions and Answers: Grange Over Sands leasehold conveyancing
I have recently realised that I have 68 years unexpired on my flat in Grange Over Sands. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be useful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Grange Over Sands.
I am hoping to sign contracts shortly on a basement flat in Grange Over Sands. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Grange Over Sands should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
Last month I purchased a leasehold property in Grange Over Sands. Do I have any liability for 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Can you offer any advice when it comes to choosing a Grange Over Sands conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Grange Over Sands conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Grange Over Sands conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If the firm is not ALEP accredited then what is the reason?
If all goes to plan we aim to complete the sale of our £325000 maisonette in Grange Over Sands in just under a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Grange Over Sands?
Grange Over Sands conveyancing on leasehold flats more often than not involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little choice but to pay whatever is requested of you if you want to sell the property.
I own a leasehold flat in Grange Over Sands, conveyancing formalities finalised 8 years ago. How much will my lease extension cost? Equivalent flats in Grange Over Sands with over 90 years remaining are worth £217,000. The ground rent is £65 per annum. The lease expires on 21st October 2092
You have 67 years unexpired we estimate the price of your lease extension to range between £14,300 and £16,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
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