I am hoping to sign contracts shortly on a basement flat in Chorley. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

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

• The physical extent of the premises. This will be the apartment itself but might incorporate a roof space or basement if applicable.
• Setting out your legal entitlements in relation to the communal areas in the building.By way of example, does the lease provide for a right of way over a path or hallways?
• You must be told what counts as a Nuisance in the lease
• Whether your lease has a provision for a reserve fund?
• Repair and maintenance of the flat
• 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
• What the implications are if you breach a clause of your lease?

I am a negotiator for a reputable estate agency in Chorley where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Chorley conveyancing firms. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease 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 need not have 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 disposal of the property.

Alternatively, it may be possible 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.

What advice can you give us when it comes to choosing a Chorley conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Chorley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Chorley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?
• What volume of lease extensions has the firm carried out in Chorley in the last twenty four months?

Do you have any top tips for leasehold conveyancing in Chorley with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Chorley can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers conveyancers.
• The majority freeholders or Management Companies in Chorley charge for supplying management packs for a leasehold homes. You or your lawyers should find out 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 receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Chorley.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Chorley state that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such changes. Should you dont have the paperwork to hand do not contact the landlord without contacting your solicitor before hand.
• If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a duplicate share certificate can be a lengthy process and delays many a Chorley home move. If a new share certificate is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

We expect to complete our sale of a £ 325000 apartment in Chorley in nine days. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Chorley?

Chorley conveyancing on leasehold flats often involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to sell the property.

I purchased a studio flat in Chorley, conveyancing was carried out in 2006. How much will my lease extension cost? Comparable properties in Chorley with an extended lease are worth £228,000. The ground rent is £60 levied per year. The lease ceases on 21st October 2086

With 60 years left to run the likely cost is going to span between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.

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 detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.