Examples of recent questions relating to leasehold conveyancing in Kings Norton
I am hoping to complete next month on a leasehold property in Kings Norton. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?
Your 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 have just appointed agents to market my basement apartment in Kings Norton.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 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 today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Kings Norton. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Kings Norton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Kings Norton so you should seriously consider shopping around for a Kings Norton conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.
My wife and I purchased a leasehold flat in Kings Norton. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Kings Norton who previously acted has long since retired.Any advice?
First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Kings Norton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete the sale of our £375000 apartment in Kings Norton next week. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Kings Norton?
Kings Norton conveyancing on leasehold maisonettes more often than not involves the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded if you want to sell the property.
I bought a ground floor flat in Kings Norton, conveyancing was carried out 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Kings Norton with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2105
With just 80 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.
The suggested premium range 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 detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
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