East Bedfont leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in East Bedfont. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in East Bedfont - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Due to complete next month on a ground floor flat in East Bedfont. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in East Bedfont should include some of the following:
- The physical extent of the demise. This will be the property itself but might include a loft or basement if appropriate.
I have just started marketing my 2 bed apartment in East Bedfont.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is 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. 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 appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in East Bedfont. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in East Bedfont ?
The majority of houses in East Bedfont 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. It is clear that you are purchasing in East Bedfont so you should seriously consider looking for a East Bedfont conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.
Can you provide any top tips for leasehold conveyancing in East Bedfont with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in East Bedfont can be reduced where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? East Bedfont leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Should you fail to have the consents to hand do not communicate with the landlord without checking with your conveyancer before hand.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a East Bedfont conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a East Bedfont conveyancing firm who can help.
An example of a Lease Extension case for a East Bedfont flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 82.93 years.