Questions and Answers: New Cross leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in New Cross. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in New Cross - then the leasehold title will always include the short particulars 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.
Looking forward to exchange soon on a ground floor flat in New Cross. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in New Cross should include some of the following:
- You should be sent a copy of the lease
Estate agents have just been given the go-ahead to market my ground floor apartment in New Cross.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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.
What are your top tips when it comes to choosing a New Cross conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a New Cross 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 speak with two or three firms including non New Cross conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- What volume of lease extensions has the firm completed in New Cross in the last year?
Do you have any advice for leasehold conveyancing in New Cross with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in New Cross can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers solicitors.
- Many landlords or Management Companies in New Cross charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in New Cross.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a New Cross conveyancing firm to help?
Most certainly. We are happy to put you in touch with a New Cross conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a New Cross premises is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case affected 3 flats. The the unexpired term as at the valuation date was 80.01 years.