I have just appointed agents to market my 2 bed apartment in Dorchester.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – what should I do?

The sensible thing to do is 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. This will smooth the conveyancing process.

I've found a house that seems to be perfect, at a great price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Dorchester. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Dorchester are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Dorchester in which case you should be looking for a Dorchester conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

I am tempted by the attractive purchase price for a two apartments in Dorchester which have in the region of 50 years left on the leases. Do I need to be concerned?

There are plenty of short leases in Dorchester. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

I work for a long established estate agency in Dorchester where we have witnessed a number of flat sales jeopardised due to short leases. I have received contradictory information from local Dorchester conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 are your top tips when it comes to choosing a Dorchester conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Dorchester conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Dorchester conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• If the firm is not ALEP accredited then what is the reason?

Leasehold Conveyancing in Dorchester - A selection of Queries Prior to buying

Best to be warned whether changing the roof or some other significant cost is pending to be shared by the tenants and will materially increase the the service fees or necessitate a one time payment. The answer will be useful as a) areas can cause problems for the building as the communal areas may start to deteriorate where repairs remain unpaid b) if the tenants have an issue with the running of the building you will need to know about it Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Dorchester