Longford leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Longford. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Longford - then the leasehold title will always include the basic details 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.
Expecting to exchange soon on a ground floor flat in Longford. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Longford should include some of the following:
- You should receive a copy of the lease
I have just appointed agents to market my garden apartment in Longford.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – what should I do?
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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am tempted by the attractive purchase price for a two apartments in Longford which have in the region of 50 years remaining on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
If all goes to plan we aim to complete the sale of our £150000 flat in Longford in just under a week. The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Longford?
Longford conveyancing on leasehold flats often requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded if you want to complete the sale of your home.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Longford conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a Longford conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Longford premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 69 years.