I’m about to sell my garden apartment in Bury.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – Do I pay up?

It best that you clear 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. This will smooth the conveyancing process.

I am a negotiator for a busy estate agency in Bury where we see a few flat sales jeopardised due to short leases. I have received contradictory information from local Bury conveyancing firms. Please can you clarify whether the seller 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 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 sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

What are your top tips when it comes to finding a Bury conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Bury conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Bury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the firm with lease extension legislation?
• Can they put you in touch with client in Bury who can give a testimonial?

Completion in due on the disposal of our £ 500000 flat in Bury next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Bury?

Bury conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to do so. They are at liberty charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to sell the property.

In relation to leasehold conveyancing in Bury what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Bury. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Skipton Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

Bury Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

You should want to discover as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the common parts. Don't be afraid to ask other people what they think of them. On a final note, be sure you know the dates that the service fees are due to the relevant party and precisely what it includes.