Recently asked questions relating to Wimborne leasehold conveyancing
My wife and I may need to let out our Wimborne garden flat for a while due to a new job. We instructed a Wimborne conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the freeholder and you the flat owner; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Wimborne do not contain subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I’m about to sell my 2 bed apartment in Wimborne.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – Do I pay up?
The sensible thing to do is clear the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold flat in Wimborne. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to finding a Wimborne conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Wimborne conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Wimborne conveyancing practices before you 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 firm with lease extension legislation?
Do you have any advice for leasehold conveyancing in Wimborne from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Wimborne can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
- Many freeholders or Management Companies in Wimborne levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have 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 common reason for delay in leasehold conveyancing in Wimborne.
Wimborne Leasehold Conveyancing - Examples of Queries Prior to Purchasing
How many of the leaseholders are in arrears for their maintenance charge payments?
This question is helpful as a) areas could cause problems for the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to know about it
Is there a share of the freehold?