I have just started marketing my ground floor apartment in Macclesfield.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – Do I pay up?

It best that you 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 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 appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Macclesfield. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Macclesfield 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 Macclesfield so you should seriously consider shopping around for a Macclesfield conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a two apartments in Macclesfield which have approximately 50 years left on the lease term. Will this present a problem?

There are plenty of short leases in Macclesfield. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason 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 may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

What advice can you give us when it comes to finding a Macclesfield conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Macclesfield 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 make enquires with two or three firms including non Macclesfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

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

All being well we will complete our sale of a £350000 flat in Macclesfield next week. The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Macclesfield?

Macclesfield conveyancing on leasehold maisonettes often requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Macclesfield Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

What restrictions are contained in the Macclesfield Lease? Where a Macclesfield lease has less than 80 years it will impact the marketability of the property. Check with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have been the owner of the residence for 24 months in order to be eligible to exercise a lease extension. Generally speaking the outlay for major works tend not to be included within maintenance charges, albeit that some managing agents in Macclesfield ask leaseholders to pay into a reserve fund and this is used to offset against major works.

Other Topics

Lease Extensions in Macclesfield