Expecting to complete next month on a ground floor flat in Grenoside. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years

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

You need to be told what constitutes a Nuisance in the lease

Whether your lease has a provision for a reserve fund?

You should have a good understanding of the insurance provisions

Responsibility for repairing the window frames

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Grenoside please ask your solicitor in ahead of your conveyancing in Grenoside

I have just started marketing my ground floor flat in Grenoside.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a two apartments in Grenoside both have in the region of fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Grenoside. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. 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 because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to finding a Grenoside conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Grenoside conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Grenoside conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• What volume of lease extensions has the firm carried out in Grenoside in the last 12 months?

Can they put you in touch with client in Grenoside who can give a testimonial?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £275000 maisonette in Grenoside next week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Grenoside?

For the majority of leasehold sales in Grenoside 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 conveyancing due diligence questions
• Where consent is required before sale in Grenoside
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Grenoside leasehold premises is £350. For Grenoside 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 provide answers.

I own a leasehold flat in Grenoside, conveyancing was carried out 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Grenoside with over 90 years remaining are worth £262,000. The ground rent is £60 per annum. The lease expires on 21st October 2095

With 70 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Grenoside