Norwood Green leasehold conveyancing: Q and A’s
Due to complete next month on a basement flat in Norwood Green. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Norwood Green should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I’m about to sell my basement flat in Norwood Green.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – Do I pay up?
It best that you discharge 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 management companies will not acknowledge the buyer until 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've recently bought a leasehold property in Norwood Green. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to finding a Norwood Green 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 Norwood Green conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Norwood Green conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
If all goes to plan we aim to complete the sale of our £225000 flat in Norwood Green in just under a week. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Norwood Green?
Norwood Green conveyancing on leasehold flats more often than not requires the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. 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 levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is demanded if you want to sell the property.
I have had difficulty in negotiating a lease extension in Norwood Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Norwood Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Norwood Green residence is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case was in relation to 2 flats. The unexpired lease term was 72.39 years.