Examples of recent questions relating to leasehold conveyancing in Lewes
I have just started marketing my ground floor flat in Lewes.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 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 work for a busy estate agency in Lewes where we see a number of leasehold sales put at risk due to short leases. I have been given contradictory information from local Lewes conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you offer any advice when it comes to appointing a Lewes conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Lewes conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Lewes conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If they are not ALEP accredited then why not?
Can you provide any advice for leasehold conveyancing in Lewes with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Lewes can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers conveyancers.
- Many landlords or Management Companies in Lewes charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Lewes.
If all goes to plan we aim to complete our sale of a £225000 maisonette in Lewes in just under a week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lewes?
For most leasehold sales in Lewes conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange questions
- Where consent is required before sale in Lewes
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Lewes, conveyancing formalities finalised in 2004. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Lewes with over 90 years remaining are worth £199,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2079
With only 55 years remaining on your lease the likely cost is going to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
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