Tiptree leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Tiptree. Before I get started I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Tiptree - 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.
Looking forward to sign contracts shortly on a ground floor flat in Tiptree. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Tiptree should include some of the following:
- Defining your rights in relation to the communal areas in the building.By way of example, does the lease include a right of way over a path or hallways?
I have just appointed agents to market my garden flat in Tiptree.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – Do I pay up?
The sensible thing to do is clear 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 until 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 am employed by a reputable estate agency in Tiptree where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Tiptree conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Completion in due on the disposal of our £500000 maisonette in Tiptree next Tuesday . The management company has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Tiptree?
Tiptree conveyancing on leasehold flats more often than not involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I own a ground floor flat in Tiptree, conveyancing formalities finalised 7 years ago. How much will my lease extension cost? Similar properties in Tiptree with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ceases on 21st October 2097
With only 75 years left to run we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive 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 should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
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