Frequently asked questions relating to Gunnersbury leasehold conveyancing
Planning to complete next month on a garden flat in Gunnersbury. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Gunnersbury should include some of the following:
- You should receive a copy of the lease
I am tempted by the attractive purchase price for a two apartments in Gunnersbury which have about 50 years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Gunnersbury. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field
What are your top tips when it comes to finding a Gunnersbury conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Gunnersbury conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Gunnersbury conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
Do you have any top tips for leasehold conveyancing in Gunnersbury from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Gunnersbury can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many freeholders or Management Companies in Gunnersbury levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Gunnersbury.
If all goes to plan we aim to complete our sale of a £225000 flat in Gunnersbury in 8 days. The landlords agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Gunnersbury?
For most leasehold sales in Gunnersbury conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Gunnersbury
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Gunnersbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Freehold Enfranchisement case for a Gunnersbury flat is 169 Southfield Road in September 2013. the tribunal decided that the premium to be paid in respect of the collective enfranchisement should be £51,203 This case related to 2 flats. The the unexpired term as at the valuation date was 64.64 years.