Looking forward to sign contracts shortly on a basement flat in Dersingham. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

I’m about to sell my ground floor flat in Dersingham.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Dersingham. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Dersingham ?

Most houses in Dersingham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Dersingham so you should seriously consider looking for a Dersingham conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

What advice can you give us when it comes to finding a Dersingham conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Dersingham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Dersingham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If they are not ALEP accredited then why not?

Are there common defects that you encounter in leases for Dersingham properties?

Leasehold conveyancing in Dersingham is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Mortgage Works, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

Leasehold Conveyancing in Dersingham - Examples of Questions you should ask before buying

You should be aware that where the lease has fewer than eighty years it will impact the marketability of the apartment. Check with your bank that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of what this will be. For most Dersinghamlease extensions you would be be obliged to have been the owner of the residence for two years in order to be legally able to carry out a lease extension. On the whole the outlay for major works are not incorporated into the service charges, although some managing agents in Dersingham ask leaseholders to contribute towards a sinking fund created for the specific purpose of establishing a fund for major works. Are any of leasehold owners in arrears of their service charge liability?

Other Topics

Lease Extensions in Dersingham