I am hoping to sign contracts shortly on a studio apartment in Verwood. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
• Setting out your legal entitlements in respect of common areas in the block.For instance, does the lease permit a right of way over a path or staircase?
• Does the lease prohibit wood flooring?
• Are you allowed to have a pet in the flat?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)

I have just started marketing my basement apartment in Verwood.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.

Last month I purchased a leasehold property in Verwood. Do I have any liability for service charges relating to a period prior to my ownership?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

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

If you are instructing a conveyancer for lease extension works (regardless if they are a Verwood conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Verwood conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• How many lease extensions has the firm carried out in Verwood in the last year?

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

• Much of the delay in leasehold conveyancing in Verwood can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Verwood state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. If you dont have the consents in place do not communicate with the landlord without checking with your solicitor in the first instance.
• A minority of Verwood leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and 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 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 reveal the dispute as over as opposed to unsettled.
• You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Verwood Leasehold Conveyancing - A selection of Queries Prior to buying