Top Five Questions relating to Marks Gate leasehold conveyancing
I have recently realised that I have Fifty years unexpired on my flat in Marks Gate. I am keen to extend my lease but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be useful to try and locate and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Marks Gate.
I’m about to sell my ground floor flat in Marks Gate.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the invoice 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 am looking at a two apartments in Marks Gate which have approximately fifty years left on the lease term. Will this present a problem?
There are plenty of short leases in Marks Gate. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
What advice can you give us when it comes to choosing a Marks Gate conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Marks Gate conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Marks Gate 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 useful:
- If they are not ALEP accredited then what is the reason?
Can you provide any advice for leasehold conveyancing in Marks Gate from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Marks Gate can be avoided if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many landlords or Management Companies in Marks Gate charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Marks Gate.
I am the proprietor of a first floor flat in Marks Gate. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the price.
An example of a Lease Extension matter before the tribunal for a Marks Gate residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 61.36 years.