Planning to exchange soon on a ground floor flat in Beaufort. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Beaufort should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I have just appointed agents to market my 2 bed apartment in Beaufort.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Beaufort. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Beaufort are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Beaufort in which case you should be shopping around for a Beaufort conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I've recently bought a leasehold house in Beaufort. Do I have any liability for service charges relating to a period prior to my ownership?

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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Can you offer any advice when it comes to choosing a Beaufort conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Beaufort conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Beaufort 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:

• If the firm is not ALEP accredited then why not?

Leasehold Conveyancing in Beaufort - A selection of Queries before Purchasing

The prefered form of lease arrangement is a share of the freehold. In this scenario the tenants have control and although a managing agent is frequently employed if it is bigger than a house conversion, the managing agent retained by the leaseholders. How much is the maintenance charge and ground rent on the flat? You should be aware if it is fewer than eighty years it will impact the marketability of the apartment. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering how much this will be. For most Beaufortlease extensions you would need to own the property for 24 months before you are entitled to extend the lease.

Other Topics

Lease Extensions in Beaufort