Sawtry leasehold conveyancing Example Support Desk Enquiries
Due to sign contracts shortly on a basement flat in Sawtry. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Sawtry should include some of the following:
- The total extent of the premises. This will be the flat itself but might include a loft or basement if appropriate.
I have just started marketing my ground floor flat in Sawtry.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is clear 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Sawtry. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Sawtry ?
Most houses in Sawtry 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. We note that you are purchasing in Sawtry so you should seriously consider shopping around for a Sawtry conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I work for a long established estate agent office in Sawtry where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Sawtry conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Completion in due on our sale of a £125000 garden flat in Sawtry next Wednesday . The freeholder has quoted £408 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 leasehold conveyance in Sawtry?
Sawtry conveyancing on leasehold flats normally requires the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to do so. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork 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 synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded if you want to complete the sale of your home.
Sawtry Leasehold Conveyancing - A selection of Queries Prior to buying
Make sure you find out if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Sawtry. If you like the apartmentin Sawtry yet your cat is not allowed to make the move with you then you will be faced hard choice.
This information is helpful as a) areas may cause problems in the block as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have complete disclosure
Does this lease have more than 80 years remaining?