Sample questions relating to Crayford leasehold conveyancing
I wish to rent out my leasehold apartment in Crayford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your previous Crayford conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Due to sign contracts shortly on a studio apartment in Crayford. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Crayford 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 am attracted to a two apartments in Crayford both have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Crayford. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in Crayford with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Crayford can be bypassed where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
- The majority landlords or managing agents in Crayford levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Crayford.
All being well we will complete our sale of a £200000 flat in Crayford in just under a week. The management company has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Crayford?
Crayford conveyancing on leasehold apartments often necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to assist. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Crayford conveyancing firm to help?
Most definitely. We can put you in touch with a Crayford conveyancing firm who can help.
An example of a Lease Extension case for a Crayford property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired term was 76 years.