Top Five Questions relating to South Woodford leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in South Woodford. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and most are in South Woodford - 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.
Looking forward to sign contracts shortly on a garden flat in South Woodford. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in South Woodford should include some of the following:
- The total extent of the property. This will be the flat itself but could also include a loft or basement if applicable.
I have just started marketing my ground floor apartment in South Woodford.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in South Woodford. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in South Woodford are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in South Woodford so you should seriously consider looking for a South Woodford conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
Do you have any advice for leasehold conveyancing in South Woodford with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in South Woodford can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
- Many landlords or managing agents in South Woodford charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in South Woodford.
I inherited a first flat in South Woodford. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Lease Extension matter before the tribunal for a South Woodford flat is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 71.2 years.