I’m about to sell my 2 bed apartment in Newton Abbot.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

It best that you 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 management companies 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. This will smooth the conveyancing process.

I am attracted to a two flats in Newton Abbot which have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

What are your top tips when it comes to finding a Newton Abbot conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Newton Abbot conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Newton Abbot conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• Can they put you in touch with client in Newton Abbot who can give a testimonial?
• What are the legal fees for lease extension conveyancing?

All being well we will complete the disposal of our £ 475000 flat in Newton Abbot on Thursday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Newton Abbot?

Newton Abbot conveyancing on leasehold apartments normally necessitates the buyer’s solicitor 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 are entitled levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to sell the property.

What makes a Newton Abbot lease problematic?

There is nothing unique about leasehold conveyancing in Newton Abbot. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• 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

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Barnsley Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Newton Abbot Leasehold Conveyancing - A selection of Queries before Purchasing

For most Newton Abbot leaseholds the outlay for major works tend not to be included within service charges, although some managing agents in Newton Abbot obliged tenants to contribute towards a reserve fund and this is used to offset against major works. Please inform me if there are any major works in the near future that could add a premium to the maintenance charges? It would be prudent to discover as much as possible regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the common parts. Enquire of other tenants what they think of their management. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.