Estate agents have just been given the go-ahead to market my basement flat in Four Oaks.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you discharge 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 hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Four Oaks. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Four Oaks ?

The majority of houses in Four Oaks are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Four Oaks so you should seriously consider shopping around for a Four Oaks conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

I am employed by a long established estate agency in Four Oaks where we see a few leasehold sales put at risk as a result of short leases. I have received inconsistent advice from local Four Oaks conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence 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 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 sit tight for 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 simultaneously with 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 buyer.

Can you provide any top tips for leasehold conveyancing in Four Oaks from the point of view of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Four Oaks can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
• The majority freeholders or managing agents in Four Oaks charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Four Oaks.

If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Four Oaks leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. If you dont have the paperwork in place you should not communicate with the landlord without contacting your conveyancer in advance.

Some Four Oaks leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.

If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers 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 settle 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 reveal the dispute as historic as opposed to ongoing.

If all goes to plan we aim to complete our sale of a £350000 apartment in Four Oaks in six days. The managing agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Four Oaks?

For most leasehold sales in Four Oaks conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Four Oaks
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Four Oaks leasehold property is £350. For Four Oaks conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Leasehold Conveyancing in Four Oaks - A selection of Queries Prior to Purchasing

Is anyone aware of any major works anticipated that could increase the maintenance fees? What is the name of the managing agents? It is important to be aware if changing the roof or some other major work is due shortly that will be shared by the tenants and will dramatically impact the level of the maintenance costs or require a one off invoice.

Other Topics

Lease Extensions in Four Oaks