Planning to exchange soon on a ground floor flat in Bulkington. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

Defining your legal entitlements in relation to common areas in the building.E.G., does the lease contain a right of way over a path or staircase?

Does the lease require carpeting throughout thus preventing wood flooring?

Changes to the flat (alterations and additions)

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Bulkington please enquire of your lawyer in advance of your conveyancing in Bulkington

Estate agents have just been given the go-ahead to market my 2 bed flat in Bulkington.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – what should I do?

The sensible thing to do is discharge 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. This will smooth the conveyancing process.

Can you offer any advice when it comes to appointing a Bulkington conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Bulkington conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Bulkington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?

If they are not ALEP accredited then why not?

Can you provide any top tips for leasehold conveyancing in Bulkington from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Bulkington can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Bulkington state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the consents to hand you should not contact the landlord without checking with your solicitor in the first instance.

Some Bulkington leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge 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 prior to 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 unresolved.

You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 flat in Bulkington next week. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bulkington?

Bulkington conveyancing on leasehold flats ordinarily involves administration charges raised by managing agents :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Bulkington
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Bulkington leasehold premises is £350. For Bulkington 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.

Bulkington Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

In the main the cost for major works tend not to be wrapped into the maintenance charges, although there some managing agents in Bulkington ask leasehold owners to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. Many Bulkington leasehold apartments will be liable to pay a service bill for the upkeep of the block invoiced by the landlord. If you buy the property you will have to pay this contribution, normally quarterly during the year. This may vary from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a ground rent for you to pay yearly, this is usually not a exorbitant sum, say around £50-£100 but you should to check as on occasion it could be many hundreds of pounds. Are any of leasehold owners in dispute over their service charge liability?

Other Topics

Lease Extensions in Bulkington