Common questions relating to Richmond leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Richmond. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Richmond - 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.
Harry (my fiance) and I may need to let out our Richmond 1st floor flat for a while due to a new job. We instructed a Richmond conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Richmond conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must obtain permission from your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Richmond.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
Do you have any top tips for leasehold conveyancing in Richmond with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Richmond can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers lawyers.
- Many landlords or managing agents in Richmond levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Richmond.
All being well we will complete the sale of our £125000 apartment in Richmond in six days. The managing agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Richmond?
Richmond conveyancing on leasehold maisonettes usually necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They may invoice 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 management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Richmond Leasehold Conveyancing - A selection of Queries Prior to buying
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Who takes charge for maintaining and repairing the building?
How is the lease structured?
How many of the leaseholders are in arrears for their maintenance charge payments?