I have just appointed agents to market my garden apartment in Redland.Conveyancing has not commenced but I have just had 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 service charge 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.

I am attracted to a two maisonettes in Redland both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold house in Redland. Am I liable to pay service charges for periods before 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. 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).

What are your top tips when it comes to finding a Redland conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Redland conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Redland conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• If the firm is not ALEP accredited then what is the reason?

All being well we will complete our sale of a £200000 apartment in Redland in just under a week. The management company has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Redland?

Redland conveyancing on leasehold flats more often than not requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Redland - A selection of Queries Prior to Purchasing

Does the lease have more than 80 years left? The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is frequently retained where it is larger than a house conversion, the managing agent employed by the leaseholders. Is anyone aware of any major works anticipated that could increase the service costs?

Other Topics

Lease Extensions in Redland