Sandbach leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Sandbach. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and almost all are in Sandbach - then the leasehold title will always include the short particulars 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 put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Sandbach. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Sandbach are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Sandbach in which case you should be looking for a Sandbach conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.
I am a negotiator for a busy estate agency in Sandbach where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Sandbach conveyancing firms. Please can you clarify whether the seller of a flat can start 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. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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 are your top tips when it comes to choosing a Sandbach conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Sandbach conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Sandbach conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
Completion in due on the sale of our £200000 apartment in Sandbach on Wednesday in a week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Sandbach?
For the majority of leasehold sales in Sandbach conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in Sandbach
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a 1st floor flat in Sandbach, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Sandbach with an extended lease are worth £251,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2085
You have 64 years remaining on your lease we estimate the premium for your lease extension to range between £14,300 and £16,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.