Top Five Questions relating to Childs Hill leasehold conveyancing
Planning to sign contracts shortly on a ground floor flat in Childs Hill. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Childs Hill should include some of the following:
- You should receive a copy of the lease
I have just started marketing my basement apartment in Childs Hill.Conveyancing has not commenced but I have just received a yearly service charge invoice – 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've found a house that appears to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Childs Hill. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Childs Hill are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Childs Hill so you should seriously consider shopping around for a Childs Hill conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
I am a negotiator for a busy estate agent office in Childs Hill where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Childs Hill conveyancing firms. Can you clarify whether the seller of a flat can initiate the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 provide any top tips for leasehold conveyancing in Childs Hill with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Childs Hill can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Childs Hill leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you fail to have the paperwork to hand do not contact the landlord without checking with your conveyancer first.
Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Childs Hill. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Childs Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Childs Hill premises is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case related to 1 flat.