Frequently asked questions relating to Walton on the Naze leasehold conveyancing
I would like to let out my leasehold flat in Walton on the Naze. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Walton on the Naze do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Expecting to complete next month on a garden flat in Walton on the Naze. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Walton on the Naze should include some of the following:
- The total extent of the demise. This will be the property itself but might include a loft or cellar if applicable.
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Walton on the Naze. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Walton on the Naze are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Walton on the Naze so you should seriously consider looking for a Walton on the Naze conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.
I am a negotiator for a busy estate agency in Walton on the Naze where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Walton on the Naze conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities 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 proposed purchaser need not have to sit tight for 2 years to extend their lease. 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 agree the lease extension with the freeholder 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 buyer.
Can you provide any top tips for leasehold conveyancing in Walton on the Naze from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Walton on the Naze can be reduced if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
- If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Walton on the Naze state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such changes. Should you fail to have the paperwork in place do not contact the landlord without contacting your solicitor before hand.
Walton on the Naze Leasehold Conveyancing - Sample of Queries before buying
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Best to be warned whether a new roof is being put on or some other significant cost is due in the near future that will be shared by the tenants and will dramatically increase the the service charges or require a specific invoice.
How many of the leaseholders are in arrears for their service charge payments?
How much is the annual maintenance fee and ground rent?
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