Frequently asked questions relating to Sandiacre leasehold conveyancing
I am hoping to sign contracts shortly on a garden flat in Sandiacre. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Sandiacre should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my 2 bed flat in Sandiacre.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is clear 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2000, I bought a leasehold house in Sandiacre. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Sandiacre who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Sandiacre conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Do you have any advice for leasehold conveyancing in Sandiacre from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Sandiacre can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Sandiacre state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such works. Should you dont have the consents to hand do not contact the landlord without contacting your solicitor before hand.
In relation to leasehold conveyancing in Sandiacre what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Sandiacre. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
Leasehold Conveyancing in Sandiacre - Sample of Questions you should ask before Purchasing
Make sure you find out if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being permitted in in a block in Sandiacre. If you love the flatin Sandiacre yet your dog can’t move with you then you have a very hard decision.
Most Sandiacre leasehold properties will be liable to pay a service bill for the upkeep of the block invoiced by the management company. Where you purchase the flat you will have to meet this amount, usually in instalments accross the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a ground rent for you to pay yearly, this is usually not a large figure, say approximately £25-£75 but you need to enquire as sometimes it can be many hundreds of pounds.
Are any of leasehold owners in arrears of their service charge payments?