Sample questions relating to Bartley Green leasehold conveyancing
I am in need of some leasehold conveyancing in Bartley Green. 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 most are in Bartley Green - then the leasehold title will always include the basic details 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 have just started marketing my 2 bed flat in Bartley Green.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is clear 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 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. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Bartley Green. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Bartley Green are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Bartley Green so you should seriously consider looking for a Bartley Green conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.
What advice can you give us when it comes to choosing a Bartley Green conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Bartley Green conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Bartley Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- What volume of lease extensions has the firm carried out in Bartley Green in the last twenty four months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £350000 flat in Bartley Green next Wednesday . The management company has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Bartley Green?
Bartley Green conveyancing on leasehold maisonettes usually requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.
I invested in buying a basement flat in Bartley Green, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bartley Green with over 90 years remaining are worth £240,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2081
With only 56 years unexpired we estimate the premium for your lease extension to range between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
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