Top Five Questions relating to Pitsea leasehold conveyancing
I only have Seventy years unexpired on my lease in Pitsea. I now wish to extend my lease but my landlord is absent. What are my options?
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 lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the freeholder. On the whole a specialist would be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Pitsea.
I am hoping to exchange soon on a ground floor flat in Pitsea. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Pitsea should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
I have just appointed agents to market my 2 bed flat in Pitsea.Conveyancing has not commenced but I have just had a yearly service charge demand – what should I do?
The sensible thing to do is 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.
Do you have any top tips for leasehold conveyancing in Pitsea with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Pitsea can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
- The majority landlords or managing agents in Pitsea levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Pitsea.
When it comes to leasehold conveyancing in Pitsea what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Pitsea. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
Leasehold Conveyancing in Pitsea - A selection of Queries before Purchasing
Are there any major works anticipated that could increase the service costs?
It would be wise to find out as much as you can concerning the managing agents as they will either make living at the property much easier or problematic. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the tidiness of the common parts. Ask prospective neighbours what they think of them. On a final note, be sure you understand the dates that the service charges are due to the relevant party and specifically what you get for your money.
How long is the Lease?