I am hoping to sign contracts shortly on a ground floor flat in Epping. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Epping should include some of the following:

• Are pets allowed in the flat?

I’m about to sell my ground floor flat in Epping.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 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've found a house that appears to be perfect, at a great figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Epping. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Epping are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Epping so you should seriously consider shopping around for a Epping conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

All being well we will complete the sale of our £275000 flat in Epping in 5 days. The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Epping?

Epping conveyancing on leasehold maisonettes normally involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.

Are there common problems that you witness in leases for Epping properties?

There is nothing unique about leasehold conveyancing in Epping. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Virgin Money, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Epping Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

You will want to find out as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day matters like the cleanliness of the common parts. You should not be afraid to ask prospective neighbours if they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending that money. This question is important as a) areas may result in problems in the building as the communal areas may start to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will need to have all the details In the main the cost for major works are not built into the service charges, albeit that some managing agents in Epping require tenants to pay into a sinking fund created for the specific purpose of building a fund for major works.

Other Topics

Lease Extensions in Epping