Frequently asked questions relating to Machen leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years left on my lease in Machen. I need to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the lessor. On the whole a specialist may be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Machen.
Due to complete next month on a garden flat in Machen. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Machen should include some of the following:
- You should receive a copy of the lease
Estate agents have just been given the go-ahead to market my 2 bed apartment in Machen.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?
It best that you 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. This will smooth the conveyancing process.
Last month I purchased a leasehold flat in Machen. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, 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 ensure 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 provide any advice for leasehold conveyancing in Machen with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Machen can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Machen charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Machen.
Machen Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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Generally speaking the cost for major works tend not to be included within service charges, albeit that a few managing agents in Machen ask leasehold owners to pay into a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance.
Please inform me if there are any major works in the near future that will increase the maintenance charges?
It would be prudent to find out as much as you can concerning the company managing the building as they can either make your life much easier or much more difficult. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily issues like the upkeep of the communal areas. Don't be afraid to ask other tenants whether they are happy with their service. On a final note, be sure you know the dates that you are obliged pay the service charge to the appropriate party and precisely how they are spending that money.
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