Sample questions relating to Yaxley leasehold conveyancing
I have just appointed agents to market my ground floor apartment in Yaxley.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is pay 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 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.
My wife and I purchased a leasehold flat in Yaxley. Conveyancing and Halifax mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Yaxley who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Yaxley conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Yaxley. Am I liable to pay service charges relating to a period prior to my ownership?
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. 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 advice can you give us when it comes to finding a Yaxley conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Yaxley conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Yaxley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Yaxley from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Yaxley can be avoided if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
- Many freeholders or managing agents in Yaxley charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Yaxley.
Yaxley Leasehold Conveyancing - A selection of Questions you should consider before buying
Does the lease have more than 82 years remaining?
Are there any major works in the near future that could add a premium to the service fees?
Are any of leasehold owners in arrears of their service charge payments?