Stroud leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have Fifty years remaining on my flat in Stroud. I need to get lease extension but my freeholder is can not be found. What options are available to me?
If 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. On the whole a specialist would be useful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Stroud.
Expecting to exchange soon on a ground floor flat in Stroud. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Stroud should include some of the following:
- The physical extent of the property. This will be the property itself but may incorporate a roof space or basement if applicable.
I have just started marketing my garden flat in Stroud.Conveyancing is yet to be initiated but I have just had a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay 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. This will smooth the conveyancing process.
Last month I purchased a leasehold flat in Stroud. Am I liable to pay service charges relating to a period prior to 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. A critical element 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 maisonette in Stroud in 10 days. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stroud?
Stroud conveyancing on leasehold apartments often involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They are entitled charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is demanded should you wish to sell the property.
Stroud Leasehold Conveyancing - A selection of Queries before Purchasing
Is anyone aware of any major works on the horizon that could increase the maintenance fees?
Its a good idea to discover as much as you can concerning the company managing the building as they will either make life much simpler or uncomfortable. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the communal areas. Don't be shy to ask other people what they think of them. On a final note, find out the dates that the service charges are due to the managing agents and precisely how they are spending that money.
It is important to be aware if window replacement or some other major work is anticipated that will be shared amongst the leasehold owners and could well dramatically impact the level of the service charges or necessitate a one time invoice.