St Austell leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in St Austell. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in St Austell - then the leasehold title will always include the basic details 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 have just appointed agents to market my ground floor flat in St Austell.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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've recently bought a leasehold property in St Austell. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to appointing a St Austell conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a St Austell conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non St Austell conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- Can they put you in touch with client in St Austell who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 maisonette in St Austell on Wednesday in a week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in St Austell?
St Austell conveyancing on leasehold maisonettes normally involves the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They may levy a reasonable charge for answering 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 transactions it is above £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.
St Austell Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
The prefered form of lease arrangement is a share of the freehold. In this scenario the leaseholders enjoy control and although a managing agent is frequently employed if it is larger than a house conversion, the managing agent is directed by the tenants.
The answer will be important as a) areas could result in problems for the block as the communal areas may start to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the running of the building you will wish to have all the details
Where a St Austell lease has fewer than 80 years it will affect the value of the apartment. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and you need to have some idea of what this will be. For most St Austelllease extensions you would need to own the premises for 24 months in order to be eligible to extend the lease.