I’m about to sell my ground floor flat in Stockport.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Stockport. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stockport ?

Most houses in Stockport are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Stockport so you should seriously consider looking for a Stockport conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am employed by a long established estate agent office in Stockport where we have experienced a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Stockport conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

Do you have any advice for leasehold conveyancing in Stockport from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Stockport can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers lawyers.
• The majority landlords or Management Companies in Stockport levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Stockport.

If all goes to plan we aim to complete the disposal of our £325000 flat in Stockport in 8 days. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Stockport?

Stockport conveyancing on leasehold flats more often than not requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.

I own a garden flat in Stockport, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Stockport with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2103

You have 78 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

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Lease Extensions in Stockport