Lynton leasehold conveyancing Example Support Desk Enquiries
I have just appointed agents to market my 2 bed apartment in Lynton.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2002, I bought a leasehold flat in Lynton. Conveyancing and Aldermore mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Lynton who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Lynton conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Lynton. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to appointing a Lynton conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Lynton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Lynton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How many lease extensions has the firm completed in Lynton in the last 12 months?
Can you provide any advice for leasehold conveyancing in Lynton with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Lynton can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
- The majority freeholders or Management Companies in Lynton levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Lynton.
Leasehold Conveyancing in Lynton - Examples of Questions you should ask before buying
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Can you tell me if there are any major works in the planning that will add a premium to the maintenance charges?
Please note if it is fewer than eighty years it will impact the value of the apartment. It is worth checking with your bank that they are happy with remaining years on the lease. A short lease means that you will probably need a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you will need to own the premises for two years in order to be entitled to extend the lease.
Its a good idea to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the communal areas. Enquire of other people whether they are happy with their service. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds.
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