Radcliffe leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Radcliffe. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and most are in Radcliffe - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am hoping to sign contracts shortly on a basement flat in Radcliffe. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Radcliffe should include some of the following:
- You should be sent a copy of the lease
I’m about to sell my garden flat in Radcliffe.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge 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 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.
I work for a reputable estate agent office in Radcliffe where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Radcliffe conveyancing firms. Could you confirm whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
What advice can you give us when it comes to choosing a Radcliffe conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Radcliffe conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Radcliffe conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Radcliffe Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders have control and notwithstanding that a managing agent is frequently retained where it is larger than a house conversion, the managing agent employed by the leaseholders.
Be sure to investigate if the the lease includes any adverse restrictions in the lease. For example it is very common in Radcliffe leases that pets are not permitted in certain buildings in Radcliffe. If you like the apartmentin Radcliffe however your cat is not allowed to live with you then you have a very hard choice.
Most Radcliffe leasehold flats will incur a service bill for the upkeep of the building invoiced by the landlord. Where you purchase the property you will have to pay this liability, normally in instalments accross the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent to be met yearly, normally this is not a exorbitant figure, say around £25-£75 but you need to check as on occasion it could be many hundreds of pounds.