Due to complete next month on a basement flat in Clacton On Sea. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Clacton On Sea should include some of the following:

• The physical extent of the premises. This will be the apartment itself but might include a loft or basement if appropriate.
• Does the lease require carpeting throughout thus preventing wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• 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.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

I have just started marketing my ground floor apartment in Clacton On Sea.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a two maisonettes in Clacton On Sea both have approximately fifty years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Clacton On Sea is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Clacton On Sea conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What advice can you give us when it comes to choosing a Clacton On Sea conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Clacton On Sea conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Clacton On Sea conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

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

Do you have any top tips for leasehold conveyancing in Clacton On Sea with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Clacton On Sea can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
• Many landlords or Management Companies in Clacton On Sea charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Clacton On Sea.
• If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat 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 ahead of 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 present the dispute as historic as opposed to ongoing.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming formality and slows down many a Clacton On Sea conveyancing deal. Where a reissued share is needed, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

I acquired a 2 bed flat in Clacton On Sea, conveyancing was carried out in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Clacton On Sea with over 90 years remaining are worth £193,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2105

With just 79 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.