Common questions relating to Shooter's Hill leasehold conveyancing
Planning to sign contracts shortly on a basement flat in Shooter's Hill. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Shooter's Hill should include some of the following:
- You should be told what constitutes a Nuisance in the lease
I work for a long established estate agency in Shooter's Hill where we have experienced a few flat sales derailed due to short leases. I have been given inconsistent advice from local Shooter's Hill conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
What are your top tips when it comes to finding a Shooter's Hill conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Shooter's Hill conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Shooter's Hill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If the firm is not ALEP accredited then why not?
Do you have any advice for leasehold conveyancing in Shooter's Hill from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Shooter's Hill can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Shooter's Hill state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you dont have the approvals to hand you should not contact the landlord without contacting your lawyer first.
If all goes to plan we aim to complete the disposal of our £275000 maisonette in Shooter's Hill in seven days. The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Shooter's Hill?
For the majority of leasehold sales in Shooter's Hill conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in Shooter's Hill
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Shooter's Hill. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price payable.
An example of a Lease Extension decision for a Shooter's Hill 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 related to 1 flat.