Sacriston leasehold conveyancing: Q and A’s
I only have 62 years unexpired on my flat in Sacriston. I am keen to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 magistrate. However, you will be required to demonstrate that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent should be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Sacriston.
Back In 2002, I bought a leasehold flat in Sacriston. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Sacriston who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Sacriston conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to choosing a Sacriston conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Sacriston conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Sacriston conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- What volume of lease extensions has the firm conducted in Sacriston in the last 12 months?
- Can they put you in touch with client in Sacriston who can give a testimonial?
Can you provide any advice for leasehold conveyancing in Sacriston with the purpose of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Sacriston can be bypassed if you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
- Many freeholders or managing agents in Sacriston levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Sacriston.
- Some Sacriston leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
- If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
- If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate is often a time consuming formality and delays many a Sacriston home move. If a reissued share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
Completion in due on the sale of our £ 125000 garden flat in Sacriston next Tuesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Sacriston?
Sacriston conveyancing on leasehold flats often involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is demanded should you wish to sell the property.
I bought a garden flat in Sacriston, conveyancing was carried out in 2011. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Sacriston with a long lease are worth £225,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2079
With 53 years remaining on your lease we estimate the price of your lease extension to span between £37,100 and £42,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.