Frequently asked questions relating to Rochdale leasehold conveyancing
Due to sign contracts shortly on a ground floor flat in Rochdale. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Rochdale should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
Estate agents have just been given the go-ahead to market my basement apartment in Rochdale.Conveyancing has not commenced but I have just had a yearly service charge invoice – what should I do?
It best that you 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 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 own a leasehold flat in Rochdale. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Rochdale who previously acted has now retired.What should I do?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Rochdale conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful 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 appointing a Rochdale conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Rochdale conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Rochdale conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Rochdale with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Rochdale can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
- Many landlords or managing agents in Rochdale levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Rochdale.
Rochdale Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
Its a good idea to discover as much as possible concerning the managing agents as they will either make your living at the property much simpler or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily matters like the tidiness of the communal areas. Ask prospective neighbours if they are happy with them. In conclusion, be sure you discover the dates that the maintenance charges are due to the relevant party and precisely what it includes.
The prefered form of lease structure is a share of the freehold. In this arrangement the lessees enjoy being in charge if their destiny and although a managing agent is usually retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Is there a share of the freehold?