Estate agents have just been given the go-ahead to market my basement flat in Basildon.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 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.

I own a leasehold flat in Basildon. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Basildon who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Basildon conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What advice can you give us when it comes to appointing a Basildon conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Basildon conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Basildon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the firm with lease extension legislation?

Can they put you in touch with client in Basildon who can give a testimonial?

Do you have any advice for leasehold conveyancing in Basildon from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Basildon can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers solicitors.
• The majority freeholders or Management Companies in Basildon charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. 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 Basildon.

A minority of Basildon leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 purchasers or their lawyers.

If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.

If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy process and frustrates many a Basildon conveyancing transaction. If a duplicate share certificate is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

Completion in due on the sale of our £425000 flat in Basildon next Friday . The management company has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Basildon?

Basildon conveyancing on leasehold maisonettes normally necessitates fees being raised by freeholders :

• Answering pre-exchange enquiries
• Where consent is required before sale in Basildon
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Basildon leasehold property is £350. For Basildon conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Basildon Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

It would be prudent to discover as much as you can about the company managing the block as they can either make life much easier or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the cleanliness of the common parts. You should not be afraid to ask prospective neighbours whether they are happy with their management. On a final note, be sure you understand the dates that the service fees are due to the managing agents and specifically what it includes. You should be aware that where the lease has less than eighty years it will have adverse implications on the salability of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out what this would cost. For most Basildonlease extensions you will be be obliged to have been the owner of the premises for two years in order to be eligible to extend the lease. Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Basildon