Expecting to exchange soon on a garden flat in Fowey. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I have just appointed agents to market my garden flat in Fowey.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear 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 work for a reputable estate agency in Fowey where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Fowey conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner 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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. 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.

An alternative approach is 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.

What advice can you give us when it comes to choosing a Fowey conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Fowey conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Fowey 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:

• What volume of lease extensions has the firm conducted in Fowey in the last year?

Completion in due on our sale of a £500000 garden flat in Fowey next week. The management company has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Fowey?

Fowey conveyancing on leasehold flats more often than not requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.

Fowey Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

It would be wise to discover as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to daily issues such as the upkeep of the communal areas. Ask other people if they are happy with them. Finally, be sure you discover the dates that you are obliged pay the service charge to the managing agents and specifically what it includes. Plenty Fowey leasehold apartments will incur a service bill for the upkeep of the building levied by the landlord. If you buy the apartment you will have to pay this contribution, normally quarterly throughout the year. This may vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge to be met yearly, normally this is not a significant sum, say around £50-£100 but you should to check it because occasionally it could be surprisingly expensive. Are there any major works anticipated that will add a premium to the service fees?

Other Topics

Lease Extensions in Fowey