Estate agents have just been given the go-ahead to market my garden flat in Topsham.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is clear 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 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. This will smooth the conveyancing process.

Last month I purchased a leasehold property in Topsham. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. However, 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).

I am employed by a reputable estate agency in Topsham where we have witnessed a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Topsham conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 purchaser.

Can you offer any advice when it comes to appointing a Topsham conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Topsham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Topsham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How many lease extensions has the firm carried out in Topsham in the last 12 months?
• Can they put you in touch with client in Topsham who can give a testimonial?

Do you have any advice for leasehold conveyancing in Topsham with the intention of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Topsham can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• Many landlords or managing agents in Topsham charge for supplying management packs for a leasehold property. You or your lawyers should find out 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 frequent cause of delay in leasehold conveyancing in Topsham.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
• If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Obtaining a duplicate share certificate can be a time consuming process and delays many a Topsham conveyancing transaction. Where a duplicate share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I purchased a 1st floor flat in Topsham, conveyancing having been completed 2007. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Topsham with over 90 years remaining are worth £221,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2099

With just 73 years left to run the likely cost is going to span between £9,500 and £11,000 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.