Looking forward to sign contracts shortly on a basement flat in Exminster. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

Are you allowed to have a pet in the flat?

Whether the lease restricts you from subletting the property, or working from home

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Exminster please enquire of your solicitor in advance of your conveyancing in Exminster

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Exminster. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Exminster ?

Most houses in Exminster 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 apparent that you are purchasing in Exminster so you should seriously consider looking for a Exminster conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

I've recently bought a leasehold flat in Exminster. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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 ensure 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).

Do you have any advice for leasehold conveyancing in Exminster from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Exminster can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
• If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Exminster leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer in advance.

If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 purchasers, but it is better to reveal the dispute as historic rather than ongoing.

If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Exminster home move. If a duplicate share is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 garden flat in Exminster in just under a week. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Exminster?

For the majority of leasehold sales in Exminster conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract enquiries
• Where consent is required before sale in Exminster
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Exminster leasehold property is £350. For Exminster 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 supply the information.

Exminster Leasehold Conveyancing - Examples of Queries Prior to buying

The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is usually retained if it is larger than a house conversion, the managing agent is directed by the tenants. On the whole the outlay for major works are not included within service charges, albeit that there some managing agents in Exminster obliged leaseholders to pay into a reserve fund created for the specific intention of building a fund for major repairs or maintenance. Be sure to find out if there are any onerous restrictions in the lease. By way of example it is very common in Exminster leases that pets are not allowed in certain buildings in Exminster. If you love the flatin Exminster yet your cat is not allowed to make the move with you then you have a very difficult decision.

Other Topics

Lease Extensions in Exminster