I’m about to sell my basement flat in Waterhouses.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 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 attracted to a couple of maisonettes in Waterhouses both have about forty five years unexpired on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

I am employed by a long established estate agency in Waterhouses where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Waterhouses conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

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.

Can you offer any advice when it comes to finding a Waterhouses conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Waterhouses conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Waterhouses conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• If they are not ALEP accredited then why not?

How many lease extensions have they carried out in Waterhouses in the last 12 months?

We expect to complete our sale of a £475000 apartment in Waterhouses next Friday . The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Waterhouses?

Waterhouses conveyancing on leasehold apartments typically necessitates administration charges raised by landlords agents :

• Answering conveyancing due diligence enquiries
• Where consent is required before sale in Waterhouses
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Waterhouses leasehold property is £350. For Waterhouses conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

Leasehold Conveyancing in Waterhouses - Sample of Questions you should ask Prior to buying

What is the name of the managing agents? This information is helpful as a) areas can cause problems for the block as the common areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to have all the details How long is the Lease?

Other Topics

Lease Extensions in Waterhouses