Woodbury leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Woodbury. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Woodbury - 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.
I only have 72 years remaining on my flat in Woodbury. I now wish to get lease extension but my landlord is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the lessor. On the whole a specialist should be useful to carry out a search and prepare a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Woodbury.
Due to sign contracts shortly on a studio apartment in Woodbury. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Woodbury should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
Estate agents have just been given the go-ahead to market my ground floor flat in Woodbury.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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 managing agents 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.
We expect to complete the sale of our £500000 apartment in Woodbury in seven days. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Woodbury?
For most leasehold sales in Woodbury conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in Woodbury
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a 2 bed flat in Woodbury, conveyancing was carried out in 2002. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Woodbury with a long lease are worth £213,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2077
With just 57 years left to run we estimate the price of your lease extension to range between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.