Expecting to sign contracts shortly on a leasehold property in Castle Bromwich. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Castle Bromwich should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• Are pets allowed in the flat?
• You must be told what counts as a Nuisance in the lease
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• 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.
• Responsibility for repairing the window frames

I have just started marketing my basement flat in Castle Bromwich.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 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 employed by a busy estate agency in Castle Bromwich where we have witnessed a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Castle Bromwich conveyancing firms. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as 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 buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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 buyer.

What advice can you give us when it comes to appointing a Castle Bromwich conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Castle Bromwich 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 talk with several firms including non Castle Bromwich conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If the firm is not ALEP accredited then why not?
• Can they put you in touch with client in Castle Bromwich who can give a testimonial?

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

• A significant proportion of the frustration in leasehold conveyancing in Castle Bromwich can be bypassed where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
• The majority freeholders or Management Companies in Castle Bromwich levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Castle Bromwich.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Castle Bromwich state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. If you dont have the consents to hand do not communicate with the landlord without checking with your solicitor in the first instance.
• If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay 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 details of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
• You believe that you know the number of years left on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I own a garden flat in Castle Bromwich, conveyancing having been completed 2004. Can you work out an approximate cost of a lease extension? Comparable flats in Castle Bromwich with over 90 years remaining are worth £169,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2092

You have 66 years unexpired we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.