Lytchett Matravers leasehold conveyancing Example Support Desk Enquiries
I’m about to sell my basement flat in Lytchett Matravers.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service 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.
Back In 2000, I bought a leasehold house in Lytchett Matravers. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Lytchett Matravers who previously acted has now 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 in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Lytchett Matravers conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agency in Lytchett Matravers where we have witnessed a few flat sales derailed due to short leases. I have been given inconsistent advice from local Lytchett Matravers conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £275000 flat in Lytchett Matravers next Monday . The landlords agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Lytchett Matravers?
For most leasehold sales in Lytchett Matravers conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in Lytchett Matravers
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
In relation to leasehold conveyancing in Lytchett Matravers what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Lytchett Matravers. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
Lytchett Matravers Conveyancing for Leasehold Flats - Sample of Queries before buying
It would be sensible to find out as much as possible concerning the managing agents as they can either make life much easier or much more difficult. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to daily issues like the cleanliness of the common parts. Ask other people what they think of them. In conclusion, be sure you know the dates that the maintenance charges are due to the managing agents and specifically how they are spending that money.
What is the length of the lease?
Please inform me if there are any major works in the planning that will increase the service fees?