Sample questions relating to Kings Norton leasehold conveyancing
Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Kings Norton. I need to get lease extension but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the lessor. For most situations an enquiry agent would be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Kings Norton.
Expecting to exchange soon on a basement flat in Kings Norton. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Kings Norton should include some of the following:
- You should receive a copy of the lease
I’m about to sell my garden flat in Kings Norton.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge 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 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. This will smooth the conveyancing process.
I am attracted to a couple of flats in Kings Norton both have about 50 years unexpired on the leases. should I be concerned?
A lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
We expect to complete our sale of a £125000 garden flat in Kings Norton next Wednesday . The management company has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Kings Norton?
For most leasehold sales in Kings Norton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract questions
- Where consent is required before sale in Kings Norton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Kings Norton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
How much is the service charge and ground rent on the property?
Its a good idea to discover as much as you can regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues such as the cleanliness of the common parts. Ask other tenants if they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.
Most Kings Norton leasehold flats will be liable to pay a service charge for the upkeep of the building set on behalf of the landlord. Should you buy the flat you will have to meet this liability, usually in instalments accross the year. This may be anything from several hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge for you to pay annual, this is usually not a large figure, say around £50-£100 but you need to check as occasionally it can be surprisingly expensive.