Southgate leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Southgate. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Southgate - 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.
Expecting to complete next month on a basement flat in Southgate. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Southgate should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
I have just appointed agents to market my ground floor flat in Southgate.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
Do you have any advice for leasehold conveyancing in Southgate with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Southgate can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
- Many freeholders or managing agents in Southgate levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Southgate.
Completion in due on our sale of a £275000 garden flat in Southgate next Wednesday . The management company has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Southgate?
For the majority of leasehold sales in Southgate 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-exchange questions
- Where consent is required before sale in Southgate
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the leaseholder of a basement flat in Southgate. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Absolutely. We are happy to put you in touch with a Southgate conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Southgate flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired lease term was 70.31 years.