I have just started marketing my garden apartment in Acton.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

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

I am a negotiator for a reputable estate agency in Acton where we have experienced a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Acton conveyancing solicitors. Could you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?

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. The benefit of this is 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 before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Do you have any top tips for leasehold conveyancing in Acton with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Acton can be reduced if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
• The majority freeholders or managing agents in Acton levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Acton.

All being well we will complete the disposal of our £300000 apartment in Acton in just under a week. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Acton?

Acton conveyancing on leasehold apartments more often than not necessitates the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Acton conveyancing firm to represent me?

if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.

An example of a Freehold Enfranchisement decision for a Acton premises is 4 Woodhurst Road in July 2013. The Tribunals valuation for the premium to be paid in respect of the collective enfranchisement was £51,050. This case was in relation to 2 flats. The the unexpired term as at the valuation date was 63.75 years.

In relation to leasehold conveyancing in Acton what are the most common lease defects?

Leasehold conveyancing in Acton is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Other Topics

Lease Extensions in Acton