Fixed-fee leasehold conveyancing in Goole:

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Top Five Questions relating to Goole leasehold conveyancing

I have just appointed agents to market my garden apartment in Goole.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you 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 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. This will smooth the conveyancing process.

I own a leasehold flat in Goole. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Goole who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Goole conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Goole both have about forty five years remaining on the leases. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

I work for a long established estate agency in Goole where we have experienced a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local Goole conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

Do you have any advice for leasehold conveyancing in Goole with the intention of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Goole can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
  • Many freeholders or managing agents in Goole charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Goole.
  • Some Goole leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a replacement share certificate is often a lengthy formality and delays many a Goole conveyancing transaction. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • Leasehold Conveyancing in Goole - Examples of Queries before Purchasing

      The prefered form of lease arrangement is if the freehold title is owned by the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. It is important to be aware whether a new roof is being put on or some other major work is anticipated that will be shared between the leasehold owners and could well dramatically increase the the service fees or result in a one off payment. What restrictions are there in the Goole Lease?

    Other Topics

    Lease Extensions in Goole