Gidea Park leasehold conveyancing Example Support Desk Enquiries
I only have Fifty years unexpired on my lease in Gidea Park. I now want to get lease extension but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have done all that could be expected to find the freeholder. For most situations a specialist would be useful to carry out a search and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Gidea Park.
I’m about to sell my ground floor apartment in Gidea Park.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – what should I do?
The sensible thing to do is clear 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 managing agents will not acknowledge the buyer unless 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 seems to tick a lot of boxes, 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 particular concerns purchasing a house with a leasehold title in Gidea Park. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Gidea Park ?
The majority of houses in Gidea Park are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Gidea Park so you should seriously consider looking for a Gidea Park conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. 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 obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.
I work for a busy estate agency in Gidea Park where we have experienced a number of flat sales derailed due to short leases. I have received inconsistent advice from local Gidea Park conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 buyer.
We expect to complete our sale of a £325000 garden flat in Gidea Park in just under a week. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Gidea Park?
Gidea Park conveyancing on leasehold maisonettes normally necessitates the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Gidea Park conveyancing firm to assist?
You certainly can. We can put you in touch with a Gidea Park conveyancing firm who can help.
An example of a Lease Extension decision for a Gidea Park flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 57.5 years.