Estate agents have just been given the go-ahead to market my 2 bed flat in Little Burstead.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold house in Little Burstead. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Little Burstead who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Little Burstead conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Little Burstead which have about forty five years left on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As a lease shortens the value of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to appointing a Little Burstead conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Little Burstead conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Little Burstead 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:

• How experienced is the firm with lease extension legislation?
• How many lease extensions have they completed in Little Burstead in the last year?

Can you provide any advice for leasehold conveyancing in Little Burstead with the aim of expediting the sale process?

• Much of the delay in leasehold conveyancing in Little Burstead can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers representatives.
• The majority freeholders or managing agents in Little Burstead charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Little Burstead.
• If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a new share certificate can be a time consuming process and slows down many a Little Burstead conveyancing transaction. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Leasehold Conveyancing in Little Burstead - Sample of Questions you should ask before buying

It is important to be aware if window replacement or some other major work is due shortly that will be shared between the leasehold owners and may well materially increase the the service costs or result in a specific payment. How many of the leaseholders are in arrears for their service charge payments? The answer will be useful as a) areas could result in problems for the block as the common areas may begin to deteriorate where repairs are not paid for b) if the leaseholders have a dispute with the running of the building you will need to have complete disclosure