Linton leasehold conveyancing Example Support Desk Enquiries
I have just appointed agents to market my ground floor apartment in Linton.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – Do I pay up?
It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a long established estate agent office in Linton where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Linton conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that 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 buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
Do you have any top tips for leasehold conveyancing in Linton from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Linton can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Linton state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your solicitor in the first instance.
All being well we will complete our sale of a £150000 apartment in Linton in seven days. The freeholder has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Linton?
Linton conveyancing on leasehold flats often necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
In relation to leasehold conveyancing in Linton what are the most common lease problems?
Leasehold conveyancing in Linton is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
Leasehold Conveyancing in Linton - Sample of Queries before Purchasing
It would be sensible to find out if there is anything that is prohibited in the lease. For instance it is very common in Linton leases that pets are not permitted in in a block in Linton. If you like the flatin Linton yet your cat can’t move with you then you have a very difficult choice.
What is the name of the managing agents?
Does this lease have more than 82 years left?