Sample questions relating to Sanderstead leasehold conveyancing
I only have 68 years unexpired on my lease in Sanderstead. I now want to get lease extension but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the lessor. For most situations a specialist may be useful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Sanderstead.
I have just started marketing my basement apartment in Sanderstead.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am tempted by the attractive purchase price for a couple of flats in Sanderstead both have in the region of forty five years unexpired on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field
Can you provide any advice for leasehold conveyancing in Sanderstead with the purpose of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Sanderstead can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ representatives.
- The majority freeholders or Management Companies in Sanderstead levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought 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 common cause of delay in leasehold conveyancing in Sanderstead.
If all goes to plan we aim to complete the disposal of our £400000 apartment in Sanderstead on Friday in a week. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Sanderstead?
Sanderstead conveyancing on leasehold maisonettes more often than not requires the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to do so. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I own a a ground floor purpose built flat in Sanderstead. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Absolutely. We can put you in touch with a Sanderstead conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Sanderstead flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The remaining number of years on the lease was 78.32 years.