Sample questions relating to Harleston leasehold conveyancing
There are only 72 years unexpired on my lease in Harleston. I now wish to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the lessor. For most situations a specialist should be helpful to carry out a search and to produce a report to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Harleston.
Planning to complete next month on a leasehold property in Harleston. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Harleston should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Estate agents have just been given the go-ahead to market my ground floor apartment in Harleston.Conveyancing has not commenced but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am tempted by the attractive purchase price for a two maisonettes in Harleston which have in the region of fifty years unexpired on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475000 maisonette in Harleston in 5 days. The landlords agents has quoted £324 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 Harleston?
For most leasehold sales in Harleston conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in Harleston
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Harleston - Examples of Questions you should ask before buying
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Is there a share of the freehold?
For many Harleston leaseholds the outlay for major works tend not to be included within service charges, albeit that some managing agents in Harleston ask leasehold owners to pay into a reserve fund and this is used to offset against larger works.
It is important to be aware whether changing the roof or some other major work is pending to be shared by the leaseholders and may well dramatically impact the level of the service costs or require a specific invoice.
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