I have just started marketing my 2 bed flat in Selsdon.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Selsdon. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Selsdon ?

Most houses in Selsdon are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Selsdon in which case you should be looking for a Selsdon conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I own a leasehold house in Selsdon. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Selsdon who previously acted has long since retired.Any advice?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Selsdon conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in Selsdon both have approximately fifty years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Selsdon is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Selsdon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any top tips for leasehold conveyancing in Selsdon from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Selsdon can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
• Many landlords or managing agents in Selsdon levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Selsdon.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry 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 the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved.
• If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Selsdon home move. Where a reissued share is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Selsdon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Absolutely. We are happy to put you in touch with a Selsdon conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Selsdon premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the fi
gure of £37,912. This case affected 6 flats. The unexpired lease term was 78.32 years.

Selsdon Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying

You will want to discover as much as possible regarding the company managing the block as they will either make life much easier or uncomfortable. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day matters such as the cleanliness of the common parts. You should not be shy to ask other tenants what they think of their service. In conclusion, be sure you understand the dates that the maintenance charges are due to the managing agents and specifically what you get for your money. Make sure you discover if the the lease includes any adverse restrictions in the lease. By way of example it is very common in Selsdon leases that pets are not allowed in in a block in Selsdon. If you love the flatin Selsdon however your dog can’t live with you then you will be presented with a hard compromise. Is anyone aware of any major works on the horizon that will add a premium to the maintenance costs?