Examples of recent questions relating to leasehold conveyancing in Liverpool
Expecting to exchange soon on a leasehold property in Liverpool. Conveyancing lawyers have said that they will have a report out to me 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 Liverpool should include some of the following:
- The physical extent of the demise. This will be the apartment itself but may incorporate a loft or basement if appropriate.
- Does the lease prohibit wood flooring?
- Are pets allowed in the flat?
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
I have just appointed agents to market my ground floor apartment in Liverpool.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold house in Liverpool. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you provide any top tips for leasehold conveyancing in Liverpool from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Liverpool can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Liverpool leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you dont have the consents to hand you should not communicate with the landlord without checking with your lawyer in advance.
- If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
- If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a time consuming process and slows down many a Liverpool home move. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
- You believe that you know the number of years left on your lease but you should double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 425000 garden flat in Liverpool on Monday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Liverpool?
Liverpool conveyancing on leasehold apartments normally necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to do so. They are at liberty levy a reasonable charge for responding to 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 situations it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I am the registered owner of a split level flat in Liverpool, conveyancing formalities finalised 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Liverpool with a long lease are worth £255,000. The ground rent is £65 levied per year. The lease ends on 21st October 2080
You have 54 years remaining on your lease we estimate the price of your lease extension to range between £34,200 and £39,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.