Sample questions relating to Mottingham leasehold conveyancing
Looking forward to exchange soon on a leasehold property in Mottingham. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Mottingham should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my garden apartment in Mottingham.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 employed by a reputable estate agent office in Mottingham where we have experienced a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Mottingham conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. 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 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 provide any top tips for leasehold conveyancing in Mottingham with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Mottingham can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Mottingham leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such works. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your solicitor in advance.
All being well we will complete the sale of our £425000 garden flat in Mottingham in seven days. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Mottingham?
For the majority of leasehold sales in Mottingham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Mottingham
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Mottingham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Mottingham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Mottingham property is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case was in relation to 1 flat. The remaining number of years on the lease was 23.26 years.