Examples of recent questions relating to leasehold conveyancing in Sunningdale
Looking forward to complete next month on a studio apartment in Sunningdale. Conveyancing solicitors 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 Sunningdale should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
Estate agents have just been given the go-ahead to market my ground floor apartment in Sunningdale.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – what should I do?
It best that you discharge 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 Sunningdale. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 be sure 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 Sunningdale conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Sunningdale conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Sunningdale conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Completion in due on the disposal of our £200000 apartment in Sunningdale in nine days. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Sunningdale?
Sunningdale conveyancing on leasehold flats more often than not requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. 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 required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Sunningdale - Examples of Queries Prior to buying
It would be prudent to find out if there are any onerous restrictions in the lease. For example it is reasonably common in Sunningdale leases that pets are not allowed in certain buildings in Sunningdale. If you like the apartmentin Sunningdale but your cat is not allowed to make the move with you then you will be faced hard compromise.
You will want to discover as much as you can about the company managing the building as they will either make your life much easier or a lot more difficult. Being a leasehold owner you will be 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 common parts. You should not be afraid to ask other tenants if they are happy with them. Finally, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely what it includes.
Is the freehold owned collectively by the tenants?