Rawcliffe leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Rawcliffe. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Rawcliffe - 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 wish to sublet my leasehold flat in Rawcliffe. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Rawcliffe do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Expecting to sign contracts shortly on a leasehold property in Rawcliffe. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Rawcliffe should include some of the following:
- You should receive a copy of the lease
I have just appointed agents to market my garden flat in Rawcliffe.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
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 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. This will smooth the conveyancing process.
I am attracted to a couple of flats in Rawcliffe both have approximately fifty years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Rawcliffe. The lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area
I inherited a 2 bed flat in Rawcliffe, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Rawcliffe with a long lease are worth £238,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2078
With only 58 years unexpired the likely cost is going to span between £26,600 and £30,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information 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. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.