Questions and Answers: Penistone leasehold conveyancing
Planning to sign contracts shortly on a basement flat in Penistone. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Penistone should include some of the following:
- The total extent of the property. This will be the apartment itself but could also include a roof space or cellar if appropriate.
I own a leasehold house in Penistone. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Penistone who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Penistone conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to choosing a Penistone conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Penistone 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 talk with several firms including non Penistone conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- What volume of lease extensions has the firm carried out in Penistone in the last 12 months?
Can you provide any top tips for leasehold conveyancing in Penistone with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Penistone can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Penistone state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the consents in place do not contact the landlord without checking with your conveyancer before hand.
Completion in due on the sale of our £475000 flat in Penistone on Friday in a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Penistone?
Penistone conveyancing on leasehold maisonettes nine out of ten times results in fees being invoiced by landlords agents :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Penistone
- 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 1 bedroom flat in Penistone, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Penistone with a long lease are worth £220,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2089
With just 67 years unexpired the likely cost is going to span between £14,300 and £16,400 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.