I have just appointed agents to market my garden apartment in South Sutton.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of apartments in South Sutton which have about 50 years unexpired on the leases. Will this present a problem?

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 reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies 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

I work for a busy estate agent office in South Sutton where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local South Sutton conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

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.

What are your top tips when it comes to finding a South Sutton conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a South Sutton conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non South Sutton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• If the firm is not ALEP accredited then what is the reason?

We expect to complete the sale of our £200000 maisonette in South Sutton on Wednesday in a week. The landlords agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in South Sutton?

South Sutton conveyancing on leasehold flats usually necessitates the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded if you want to complete the sale of your home.

Leasehold Conveyancing in South Sutton - Examples of Questions you should ask Prior to buying

The answer will be helpful as a) areas can result in problems for the block as the communal areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will want to have full disclosure In the main the cost for major works are not built into the maintenance charges, although some managing agents in South Sutton require tenants to pay into a sinking fund created for the specific purpose of establishing a fund for major repairs or maintenance. The prefered form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the tenants have control and notwithstanding that a managing agent is usually employed where it is bigger than a house conversion, the managing agent retained by the leaseholders.

Other Topics

Lease Extensions in South Sutton