Top Five Questions relating to Seven Kings leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Seven Kings. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Seven Kings - then the leasehold title will always include the short particulars 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.
Planning to complete next month on a ground floor flat in Seven Kings. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Seven Kings should include some of the following:
- Defining your rights in relation to common areas in the building.For example, does the lease contain a right of way over an accessway or staircase?
I have just started marketing my ground floor flat in Seven Kings.Conveyancing is yet to be initiated but I have just received a half-yearly service charge demand – Do I pay up?
The sensible thing to do is 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 managing agents 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. This will smooth the conveyancing process.
I work for a busy estate agency in Seven Kings where we have experienced a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Seven Kings conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
If all goes to plan we aim to complete the sale of our £300000 apartment in Seven Kings on Tuesday in a week. The freeholder has quoted £336 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 flat conveyance in Seven Kings?
For the majority of leasehold sales in Seven Kings conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Seven Kings
- 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 getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Seven Kings conveyancing firm to act on my behalf?
Most certainly. We are happy to put you in touch with a Seven Kings conveyancing firm who can help.
An example of a Lease Extension decision for a Seven Kings property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired lease term was 61.36 years.
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