Frequently asked questions relating to Grasmere leasehold conveyancing
I am on look out for some leasehold conveyancing in Grasmere. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and most are in Grasmere - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am hoping to complete next month on a ground floor flat in Grasmere. Conveyancing lawyers assured 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 Grasmere should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
Estate agents have just been given the go-ahead to market my 2 bed flat in Grasmere.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay 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. Having a clear account will assist your cause and will leave you no worse off financially.
What are your top tips when it comes to appointing a Grasmere conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Grasmere conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Grasmere conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If they are not ALEP accredited then what is the reason?
All being well we will complete the sale of our £225000 garden flat in Grasmere in 8 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 flat conveyance in Grasmere?
Grasmere conveyancing on leasehold apartments normally requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have no option but to pay whatever is demanded if you want to sell the property.
I invested in buying a 2 bed flat in Grasmere, conveyancing was carried out 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Grasmere with over 90 years remaining are worth £255,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2092
With just 69 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.