Golders Green leasehold conveyancing: Q and A’s
I am hoping to exchange soon on a leasehold property in Golders Green. Conveyancing lawyers assured 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 Golders Green should include some of the following:
- You should receive a copy of the lease
I’m about to sell my ground floor flat in Golders Green.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you 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 management companies 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 am employed by a reputable estate agent office in Golders Green where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Golders Green conveyancing firms. Please can you confirm whether the owner of a flat can start 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is 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.
Can you offer any advice when it comes to appointing a Golders Green conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Golders Green conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Golders Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- What volume of lease extensions have they completed in Golders Green in the last 12 months?
All being well we will complete the sale of our £375000 flat in Golders Green next Thursday . The landlords agents has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Golders Green?
Golders Green conveyancing on leasehold apartments usually involves the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality one has little option but to pay whatever is demanded should you wish to sell the property.
I am the leaseholder of a garden flat in Golders Green. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price payable.
An example of a Lease Extension decision for a Golders Green flat is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.
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