I have just started marketing my garden flat in Beaworthy.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you 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 management companies 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've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Beaworthy. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Beaworthy are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Beaworthy so you should seriously consider shopping around for a Beaworthy conveyancing solicitor and check that they have experience in 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 comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of maisonettes in Beaworthy which have approximately 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Beaworthy. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Beaworthy from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Beaworthy can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers conveyancers.
• Many landlords or Management Companies in Beaworthy charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Beaworthy.
• A minority of Beaworthy leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 buyers or their solicitors.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 clearly preferable to present the dispute as over as opposed to unresolved.
• You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Completion in due on the disposal of our £ 200000 garden flat in Beaworthy next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Beaworthy?

Beaworthy conveyancing on leasehold flats normally necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

I invested in buying a basement flat in Beaworthy, conveyancing having been completed 2009. How much will my lease extension cost? Corresponding properties in Beaworthy with an extended lease are worth £250,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2098

With just 72 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.