Frequently asked questions relating to Great Wyrley leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Great Wyrley. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and most are in Great Wyrley - then the leasehold title will always include the short particulars 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 have recently realised that I have Seventy years left on my lease in Great Wyrley. I need to extend my lease but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to find the lessor. On the whole an enquiry agent would be helpful to try and locate and to produce an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Great Wyrley.
Estate agents have just been given the go-ahead to market my ground floor flat in Great Wyrley.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – Do I pay up?
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 unless 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 own a leasehold house in Great Wyrley. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Great Wyrley who acted for me is not around.Any advice?
First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Great Wyrley conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete our sale of a £400000 apartment in Great Wyrley in just under a week. The freeholder has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Great Wyrley?
Great Wyrley conveyancing on leasehold flats normally requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I inherited a 1 bedroom flat in Great Wyrley, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Great Wyrley with a long lease are worth £262,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2100
With only 75 years left to run the likely cost is going to range between £12,400 and £14,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
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