I have just started marketing my 2 bed apartment in Bilston and Bradley.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 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.

Last month I purchased a leasehold property in Bilston and Bradley. Am I liable to pay service charges for periods before completion of my purchase?

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).

What are your top tips when it comes to choosing a Bilston and Bradley conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Bilston and Bradley conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Bilston and Bradley 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 helpful:

• How familiar is the practice with lease extension legislation?

If the firm is not ALEP accredited then what is the reason?

Can you provide any top tips for leasehold conveyancing in Bilston and Bradley with the purpose of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Bilston and Bradley can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• Many landlords or managing agents in Bilston and Bradley charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Bilston and Bradley.

In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Bilston and Bradley leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your conveyancer first.

If you hold a share in a the freehold, you should make sure that you are holding the original share document. Obtaining a new share certificate is often a lengthy formality and slows down many a Bilston and Bradley home move. Where a duplicate share is necessary, do contact the company officers or managing agents (where applicable) for this as soon as possible.

You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £500000 flat in Bilston and Bradley next Friday . The landlords agents has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bilston and Bradley?

For most leasehold sales in Bilston and Bradley conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in Bilston and Bradley
• Supplying insurance information
• 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 Bilston and Bradley leasehold property is £350. For Bilston and Bradley 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 obliged to provide the information.

Bilston and Bradley Leasehold Conveyancing - Examples of Queries Prior to Purchasing

How much is the ground rent and service charge? How long is the Lease? It would be wise to find out as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the common parts. Enquire of prospective neighbours whether they are happy with their management. Finally, investigate as to the dates that the service fees are due to the managing agents and specifically how they are spending that money.

Other Topics

Lease Extensions in Bilston and Bradley