Common questions relating to Thames View leasehold conveyancing
Planning to complete next month on a garden flat in Thames View. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Thames View should include some of the following:
- You should be sent a copy of the lease
I have just started marketing my garden apartment in Thames View.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Thames View. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Thames View are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Thames View in which case you should be looking for a Thames View 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. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I am looking at a couple of apartments in Thames View both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Thames View. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Can you provide any advice for leasehold conveyancing in Thames View with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Thames View can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Thames View charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Thames View.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Thames View. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Lease Extension case for a Thames View residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the unexpired residue of the current lease was 61.36 years.
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