Looking forward to exchange soon on a basement flat in Hazlemere. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Hazlemere should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• You must be told what constitutes a Nuisance in the lease
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?

Estate agents have just been given the go-ahead to market my basement apartment in Hazlemere.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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 hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Hazlemere. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Hazlemere ?

The majority of houses in Hazlemere are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Hazlemere so you should seriously consider looking for a Hazlemere conveyancing solicitor and check that they have experience in transacting on leasehold houses. First 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 will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

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

There are plenty of short leases in Hazlemere. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 375000 apartment in Hazlemere on Monday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Hazlemere?

Hazlemere conveyancing on leasehold maisonettes usually involves the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They may invoice a reasonable charge 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 £350, in some cases it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. In reality one has no choice but to pay whatever is demanded should you wish to sell the property.

Hazlemere Leasehold Conveyancing - Sample of Queries Prior to buying

You should be aware that where the lease has fewer than eighty years it will affect the salability of the apartment. Check with your lender that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will most likely require a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Hazlemerelease extensions you will need to own the premises for two years before you are entitled to extend the lease. Plenty Hazlemere leasehold apartments will incur a service bill for the upkeep of the building levied on behalf of the landlord. Where you acquire the apartment you will have to pay this liability, usually quarterly accross the year. This could be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a rentcharge to be met yearly, this is usually not a exorbitant figure, say about £50-£100 but you should to enquire as occasionally it could be many hundreds of pounds.