Questions and Answers: Crewe leasehold conveyancing
Due to sign contracts shortly on a ground floor flat in Crewe. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Crewe should include some of the following:
- The physical extent of the demise. This will be the property itself but could also incorporate a loft or cellar if applicable.
- Does the lease require carpeting throughout thus preventing wood flooring?
- Are pets allowed in the flat?
- Repair and maintenance of the flat
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- Responsibility for repairing the window frames
I have just started marketing my 2 bed flat in Crewe.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you 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 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.
I work for a long established estate agent office in Crewe where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Crewe conveyancing solicitors. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you offer any advice when it comes to choosing a Crewe conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Crewe conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Crewe conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If they are not ALEP accredited then what is the reason?
- Can they put you in touch with client in Crewe who can give a testimonial?
Completion in due on the disposal of our £ 500000 flat in Crewe in nine days. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Crewe?
Crewe conveyancing on leasehold flats usually results in administration charges levied by management companies :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Crewe
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a ground floor flat in Crewe, conveyancing was carried out 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Crewe with over 90 years remaining are worth £166,000. The ground rent is £55 per annum. The lease runs out on 21st October 2088
With just 62 years remaining on your lease we estimate the premium for your lease extension to range between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.