Top Five Questions relating to Lingfield leasehold conveyancing
I have recently realised that I have Seventy years remaining on my lease in Lingfield. I need to extend my lease but my landlord is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document to be used as proof that the freeholder 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 application to the County Court overseeing Lingfield.
Planning to complete next month on a basement flat in Lingfield. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Lingfield should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I’m about to sell my ground floor flat in Lingfield.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?
It best that you clear 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 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 today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Lingfield. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Lingfield 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. it is apparent that you are buying in Lingfield in which case you should be looking for a Lingfield conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
We expect to complete our sale of a £275000 apartment in Lingfield next Monday . The managing agents has quoted £336 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 Lingfield?
Lingfield conveyancing on leasehold flats more often than not necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality one has little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Lingfield Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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Who are the managing agents?
How many years are left on the lease?
It would be wise to discover as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the common parts. Ask other tenants whether they are happy with their management. On a final note, be sure you know the dates that the service fees are due to the managing agents and specifically what you get for your money.
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