Estate agents have just been given the go-ahead to market my basement flat in Didsbury.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is 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 until 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 attracted to a two flats in Didsbury both have approximately forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Didsbury. The lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease reduces and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

I am employed by a reputable estate agent office in Didsbury where we have experienced a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Didsbury conveyancing solicitors. Please can you confirm whether the owner of a flat can initiate the lease extension process 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 buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 are your top tips when it comes to choosing a Didsbury conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Didsbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Didsbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?
• How many lease extensions has the firm conducted in Didsbury in the last 12 months?

Can you provide any advice for leasehold conveyancing in Didsbury from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Didsbury can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
• The majority landlords or managing agents in Didsbury charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have 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 Didsbury.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Didsbury state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Should you fail to have the paperwork in place do not contact the landlord without checking with your lawyer in the first instance.
• If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Leasehold Conveyancing in Didsbury - Sample of Queries before Purchasing