Sample questions relating to Great Dunmow leasehold conveyancing
I’m about to sell my garden flat in Great Dunmow.Conveyancing is yet to be initiated but I have just had a quarterly maintenance 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Great Dunmow. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Great Dunmow ?
The majority of houses in Great Dunmow are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Great Dunmow in which case you should be looking for a Great Dunmow conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
I own a leasehold house in Great Dunmow. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Great Dunmow who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Great Dunmow conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of flats in Great Dunmow which have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in Great Dunmow from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Great Dunmow can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
- Many landlords or managing agents in Great Dunmow charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Great Dunmow.
Leasehold Conveyancing in Great Dunmow - A selection of Questions you should consider Prior to buying
This information is important as a) areas can cause problems for the block as the common areas may start to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to have full disclosure
Plenty Great Dunmow leasehold properties will have a service bill for the upkeep of the block invoiced on behalf of the landlord. Should you purchase the property you will have to pay this contribution, usually periodically accross the year. This may be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge to be met annual, ordinarily this is not a large sum, say approximately £25-£75 but you should to check it because on occasion it can be prohibitively expensive.
What prohibitions are there in the Great Dunmow Lease?