Questions and Answers: Pevensey leasehold conveyancing
I am hoping to exchange soon on a basement flat in Pevensey. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Pevensey should include some of the following:
- Setting out your rights in respect of the communal areas in the block.E.G., does the lease permit a right of way over an accessway or hallways?
Estate agents have just been given the go-ahead to market my 2 bed apartment in Pevensey.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold house in Pevensey. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Pevensey who previously acted has now retired.Any advice?
First contact 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 Pevensey conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Pevensey with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Pevensey can be avoided if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers lawyers.
- The majority freeholders or managing agents in Pevensey charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Pevensey.
All being well we will complete the sale of our £350000 garden flat in Pevensey in 5 days. The management company has quoted £372 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Pevensey?
For most leasehold sales in Pevensey conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract questions
- Where consent is required before sale in Pevensey
- 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 invested in buying a 1 bedroom flat in Pevensey, conveyancing was carried out 4 years ago. How much will my lease extension cost? Similar properties in Pevensey with an extended lease are worth £250,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2091
With only 68 years left to run the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.