Edmonton leasehold conveyancing Example Support Desk Enquiries
I have just appointed agents to market my ground floor apartment in Edmonton.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – Do I pay up?
The sensible thing to do is pay 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.
Last month I purchased a leasehold property in Edmonton. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to choosing a Edmonton conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Edmonton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Edmonton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £175000 garden flat in Edmonton in 5 days. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Edmonton?
Edmonton conveyancing on leasehold maisonettes normally requires the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to do so. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to sell the property.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Edmonton conveyancing firm to help?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Vesting Order and Purchase of freehold decision for a Edmonton residence is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired lease term was 80.01 years.
Are there common problems that you come across in leases for Edmonton properties?
Leasehold conveyancing in Edmonton is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.