Top Five Questions relating to Walton on the Naze leasehold conveyancing
I only have Fifty years remaining on my flat in Walton on the Naze. I need to get lease extension but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. For most situations a specialist should be helpful to carry out a search and to produce an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Walton on the Naze.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Walton on the Naze. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Walton on the Naze are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Walton on the Naze so you should seriously consider shopping around for a Walton on the Naze conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will report to you on the legal implications.
What are your top tips when it comes to appointing a Walton on the Naze conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Walton on the Naze conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Walton on the Naze conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Walton on the Naze from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Walton on the Naze can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
- The majority landlords or managing agents in Walton on the Naze levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Walton on the Naze.
All being well we will complete the sale of our £250000 maisonette in Walton on the Naze in just under a week. The managing agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Walton on the Naze?
Walton on the Naze conveyancing on leasehold flats typically results in administration charges invoiced by management companies :
- Answering pre-contract questions
- Where consent is required before sale in Walton on the Naze
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a basement flat in Walton on the Naze, conveyancing having been completed 1995. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Walton on the Naze with a long lease are worth £194,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2095
With only 71 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
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