Expecting to complete next month on a leasehold property in Yarm On Tees. Conveyancing lawyers have said that they are sending me a report next week. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Setting out your legal entitlements in respect of common areas in the building.E.G., does the lease provide for a right of way over an accessway or staircase?

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

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.

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Yarm On Tees please ask your conveyancer in ahead of your conveyancing in Yarm On Tees

Estate agents have just been given the go-ahead to market my garden apartment in Yarm On Tees.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

It best that you 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 employed by a busy estate agent office in Yarm On Tees where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Yarm On Tees conveyancing firms. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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 provide any top tips for leasehold conveyancing in Yarm On Tees with the intention of expediting the sale process?

• Much of the delay in leasehold conveyancing in Yarm On Tees can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Yarm On Tees leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you fail to have the approvals to hand do not communicate with the landlord without checking with your solicitor first.

If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle 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 will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unresolved.

If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a time consuming process and slows down many a Yarm On Tees home move. Where a duplicate share is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’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. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

If all goes to plan we aim to complete the disposal of our £200000 flat in Yarm On Tees in just under a week. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Yarm On Tees?

Yarm On Tees conveyancing on leasehold maisonettes usually involves fees being levied by freeholders :

• Answering pre-exchange questions
• Where consent is required before sale in Yarm On Tees
• Supplying insurance information
• 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 Yarm On Tees leasehold property is £350. For Yarm On Tees 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 required to provide the information.

I invested in buying a 1 bedroom flat in Yarm On Tees, conveyancing was carried out 2010. Can you work out an approximate cost of a lease extension? Equivalent flats in Yarm On Tees with an extended lease are worth £264,000. The ground rent is £50 per annum. The lease ceases on 21st October 2097

With just 73 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Yarm On Tees