Recently asked questions relating to Waddon leasehold conveyancing
I am hoping to complete next month on a basement flat in Waddon. Conveyancing lawyers inform me that they will have a report out to me 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 Waddon should include some of the following:
- Whether the lease restricts you from renting out the flat, or having a home office for business
I’m about to sell my 2 bed flat in Waddon.Conveyancing has not commenced but I have just had a quarterly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 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 am looking at a two maisonettes in Waddon both have about forty five years unexpired on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
What are your top tips when it comes to finding a Waddon conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Waddon conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Waddon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Waddon with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Waddon can be reduced if you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers solicitors.
- The majority landlords or Management Companies in Waddon levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Waddon.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Waddon conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Waddon conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Waddon premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The the number of years remaining on the existing lease(s) was 98 years.