Sample questions relating to Crook Log leasehold conveyancing
I am hoping to exchange soon on a basement flat in Crook Log. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Crook Log should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Estate agents have just been given the go-ahead to market my 2 bed flat in Crook Log.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice 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 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 hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Crook Log. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Crook Log are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Crook Log in which case you should be looking for a Crook Log conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.
Can you provide any advice for leasehold conveyancing in Crook Log from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Crook Log can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
- Many landlords or managing agents in Crook Log levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Crook Log.
Completion in due on our sale of a £225000 flat in Crook Log next week. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Crook Log?
Crook Log conveyancing on leasehold maisonettes nine out of ten times results in fees being invoiced by freeholders :
- Completing pre-exchange enquiries
- Where consent is required before sale in Crook Log
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a second floor flat in Crook Log. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
You certainly can. We can put you in touch with a Crook Log conveyancing firm who can help.
An example of a Lease Extension decision for a Crook Log flat 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 related to 13 flats. The the unexpired term as at the valuation date was 76 years.