Sands End leasehold conveyancing: Q and A’s
I have just started marketing my ground floor apartment in Sands End.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay 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 flat in Sands End. Am I liable to pay service charges for periods before my ownership?
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. 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).
What advice can you give us when it comes to finding a Sands End conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Sands End conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Sands End 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:
- If the firm is not ALEP accredited then what is the reason?
Do you have any advice for leasehold conveyancing in Sands End with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Sands End can be avoided if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
- Many freeholders or managing agents in Sands End charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Sands End.
If all goes to plan we aim to complete our sale of a £175000 garden flat in Sands End next Thursday . The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Sands End?
Sands End conveyancing on leasehold apartments usually necessitates administration charges levied by management companies :
- Answering pre-contract enquiries
- Where consent is required before sale in Sands End
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Sands End conveyancing firm to represent me?
Most certainly. We can put you in touch with a Sands End conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Sands End residence is 29 Sisters Avenue in April 2013. The Tribunal camme to the conclusion that the entire freehold should be transferred by the landlord to the nominee purchaser. The price to be paid was the sum of £53,527. This had been arrived at by applying a deferment rate of 5.25% to the freehold reversion and relativity of 95.4% to the leasehold values. This case affected 4 flats. The the number of years remaining on the existing lease(s) was 85.78 years.