Looking forward to sign contracts shortly on a basement flat in Parkstone. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Parkstone should include some of the following:

• Defining your legal entitlements in respect of the communal areas in the building.By way of example, does the lease provide for a right of way over a path or hallways?
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

I’m about to sell my garden apartment in Parkstone.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – what should I do?

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 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 Parkstone both have in the region of 50 years unexpired on the leases. should I be concerned?

A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold flat in Parkstone. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to finding a Parkstone conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Parkstone conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Parkstone conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?
• What volume of lease extensions has the firm carried out in Parkstone in the last twenty four months?

I acquired a split level flat in Parkstone, conveyancing formalities finalised 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Parkstone with a long lease are worth £261,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2106

With 80 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.