Having had my offer accepted I require leasehold conveyancing in Seaton. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Seaton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I only have Sixty One years left on my flat in Seaton. I am keen to get lease extension but my freeholder is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. In some cases a specialist would be helpful to carry out a search and prepare an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court overseeing Seaton.

I’m about to sell my garden flat in Seaton.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – Do I pay up?

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 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 couple of flats in Seaton which have about 50 years left on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

Can you provide any top tips for leasehold conveyancing in Seaton from the point of view of expediting the sale process?

• Much of the delay in leasehold conveyancing in Seaton can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• The majority freeholders or managing agents in Seaton charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding 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 Seaton.
• Some Seaton leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Organising a duplicate share certificate can be a time consuming formality and frustrates many a Seaton conveyancing transaction. Where a new share is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

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

How much is the yearly maintenance fee and ground rent? Are any of leasehold owners in arrears of their service charge liability?