Examples of recent questions relating to leasehold conveyancing in Wisbech
Having had my offer accepted I require leasehold conveyancing in Wisbech. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Wisbech - then the leasehold title will always include the short particulars 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.
Estate agents have just been given the go-ahead to market my garden flat in Wisbech.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?
It best that you 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 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 seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Wisbech. Conveyancing advisers have not yet been instructed. Will they explain the issues?
The majority of houses in Wisbech are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Wisbech so you should seriously consider looking for a Wisbech conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
I've recently bought a leasehold house in Wisbech. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Do you have any top tips for leasehold conveyancing in Wisbech with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Wisbech can be avoided where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
- The majority freeholders or Management Companies in Wisbech charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack 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 Wisbech.
Leasehold Conveyancing in Wisbech - A selection of Queries before Purchasing
How many years remain on the lease?
How much is the service charge and ground rent on the apartment?
Who takes charge for maintaining and repairing the building?