I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Burnham On Crouch. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Burnham On Crouch ?

Most houses in Burnham On Crouch are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Burnham On Crouch in which case you should be looking for a Burnham On Crouch conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a couple of flats in Burnham On Crouch both have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

I work for a busy estate agency in Burnham On Crouch where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Burnham On Crouch conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you offer any advice when it comes to finding a Burnham On Crouch conveyancing firm to deal with our lease extension?

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

• If they are not ALEP accredited then why not?
• Can they put you in touch with client in Burnham On Crouch who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Burnham On Crouch with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Burnham On Crouch can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
• The majority freeholders or managing agents in Burnham On Crouch levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Burnham On Crouch.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Burnham On Crouch state that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such changes. If you fail to have the paperwork to hand do not communicate with the landlord without contacting your conveyancer first.
• If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy formality and delays many a Burnham On Crouch conveyancing deal. Where a reissued share is required, do contact the company officers or managing agents (where applicable) for this as soon as possible.

Burnham On Crouch Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

How many years are left on the lease? Best to be warned whether fixing the lift or some other major work is due in the near future that will be shared amongst the leaseholders and will dramatically increase the the service fees or necessitate a specific payment. Are any of leasehold owners in dispute over their service charge payments?