Sample questions relating to Middlewich leasehold conveyancing
I am hoping to complete next month on a studio apartment in Middlewich. Conveyancing lawyers assured 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?
Your report on title for your leasehold conveyancing in Middlewich should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my ground floor flat in Middlewich.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?
The sensible thing to do is 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 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. This will smooth the conveyancing process.
I work for a reputable estate agency in Middlewich where we have experienced a number of leasehold sales jeopardised due to short leases. I have received conflicting advice from local Middlewich conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner 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. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.
Can you provide any advice for leasehold conveyancing in Middlewich with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Middlewich can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Middlewich state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your conveyancer in the first instance.
All being well we will complete the sale of our £325000 flat in Middlewich next week. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Middlewich?
For most leasehold sales in Middlewich conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Middlewich
- 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 bought a 2 bed flat in Middlewich, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Middlewich with a long lease are worth £243,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2086
You have 65 years left to run the likely cost is going to range between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.