Sample questions relating to Taplow leasehold conveyancing
Due to complete next month on a garden flat in Taplow. Conveyancing lawyers 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 Taplow should include some of the following:
- Setting out your rights in relation to the communal areas in the building.By way of example, does the lease permit a right of way over a path or staircase?
I have just appointed agents to market my 2 bed flat in Taplow.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – what should I do?
It best that you discharge 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.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Taplow. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Taplow are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Taplow in which case you should be shopping around for a Taplow conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I am attracted to a couple of maisonettes in Taplow both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
We expect to complete the sale of our £150000 maisonette in Taplow next week. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Taplow?
Taplow conveyancing on leasehold apartments normally necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are at liberty charge a reasonable charge for responding to enquiries 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 situations it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the registered owner of a 2 bed flat in Taplow, conveyancing having been completed 2006. How much will my lease extension cost? Similar properties in Taplow with an extended lease are worth £253,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2088
With 65 years left to run the likely cost is going to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.