Looking forward to complete next month on a garden flat in Penryn. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Penryn should include some of the following:

• Does the lease prevent you from letting out the flat, or working from home
• You should be told what constitutes a Nuisance in the lease
• Whether your lease has a provision for a reserve fund?
• 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 have just appointed agents to market my 2 bed apartment in Penryn.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

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 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. 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 Penryn where we see a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Penryn conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that 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. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 Penryn with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Penryn can be reduced if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers representatives.
• The majority landlords or Management Companies in Penryn levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Penryn.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Penryn state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. If you dont have the approvals to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
• If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
• If you hold a share in a the freehold, you should ensure that you have the original share document. Obtaining a replacement share certificate is often a lengthy formality and slows down many a Penryn conveyancing transaction. Where a duplicate share is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.

When it comes to leasehold conveyancing in Penryn what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Penryn. Most leases are unique and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Skipton Building Society, and Clydesdale 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 is problematic they may refuse to provide security, obliging the purchaser to withdraw.

Leasehold Conveyancing in Penryn - Examples of Questions you should ask before Purchasing

What is the length of the lease? It would be wise to investigate if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Penryn. If you like the flatin Penryn however your cat can’t make the move with you then you will be faced hard determination. The answer will be useful as a) areas could result in problems in the building as the communal areas may start to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will want to know about it