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Top Five Questions relating to Ardleigh Green leasehold conveyancing

Looking forward to exchange soon on a leasehold property in Ardleigh Green. Conveyancing solicitors inform me 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 Ardleigh Green should include some of the following:

  • The physical extent of the property. This will be the flat itself but might include a roof space or basement if applicable.
  • Setting out your rights in respect of the communal areas in the building.For instance, does the lease contain a right of way over an accessway or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Are pets allowed in the flat?
  • You need to be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions) For a comprehensive list of information to be contained in your report on your leasehold property in Ardleigh Green please ask your lawyer in ahead of your conveyancing in Ardleigh Green

    • I have just started marketing my 2 bed apartment in Ardleigh Green.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – Do I pay up?

    It best that you 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 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. This will smooth the conveyancing process.

    I am looking at a couple of apartments in Ardleigh Green both have about 50 years remaining on the leases. Do I need to be concerned?

    A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

    I work for a busy estate agency in Ardleigh Green where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Ardleigh Green conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has owned the lease 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible 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 finding a Ardleigh Green conveyancing practice to carry out our lease extension conveyancing?

    When appointing a property lawyer for your lease extension (regardless if they are a Ardleigh Green conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Ardleigh Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

    • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Ardleigh Green who can give a testimonial?

    • I am the registered owner of a first floor flat in Ardleigh Green. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

    Most certainly. We are happy to put you in touch with a Ardleigh Green conveyancing firm who can help.

    An example of a Lease Extension decision for a Ardleigh Green premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired lease term was 57.5 years.

    Other Topics

    Lease Extensions in Ardleigh Green