Recently asked questions relating to Kirkby leasehold conveyancing
There are only 68 years unexpired on my lease in Kirkby. I now want to extend my lease but my landlord is absent. What options are available to me?
On the basis that 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 an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist would be useful to conduct investigations and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Kirkby.
Looking forward to sign contracts shortly on a ground floor flat in Kirkby. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kirkby should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
I have just appointed agents to market my 2 bed apartment in Kirkby.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear 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 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've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Kirkby. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Kirkby are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Kirkby in which case you should be looking for a Kirkby conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
I am looking at a two apartments in Kirkby both have approximately forty five years left on the leases. should I be concerned?
There are plenty of short leases in Kirkby. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field
Leasehold Conveyancing in Kirkby - A selection of Questions you should ask before buying
It would be wise to find out as much as you can regarding the company managing the block as they will either make living at the property much easier or problematic. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day issues like the tidiness of the common parts. Enquire of other tenants if they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money.
Please inform me if there are any major works in the near future that could add a premium to the maintenance fees?
What is the name of the managing agents?