Top Five Questions relating to Ruxley leasehold conveyancing
I am hoping to complete next month on a studio apartment in Ruxley. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Ruxley should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I have just appointed agents to market my ground floor flat in Ruxley.Conveyancing is yet to be initiated but I have just had 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 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 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.
Last month I purchased a leasehold house in Ruxley. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Can you offer any advice when it comes to finding a Ruxley conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Ruxley conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Ruxley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How many lease extensions have they carried out in Ruxley in the last 12 months?
If all goes to plan we aim to complete our sale of a £325000 apartment in Ruxley in six days. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Ruxley?
Ruxley conveyancing on leasehold apartments usually involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to sell the property.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Ruxley conveyancing firm to represent me?
if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Lease Extension decision for a Ruxley flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.