Selling Leasehold Solicitors Enfield, Finchley, North London and Hertfordshire

Main Issues

The mains issues involved in a sale include

• Obtaining office copy entries and a copy of the Lease from the Land Registry
• Obtaining a sales management pack from the landlord and if necessary also from the management company
• Examining the title and advising you of any issues
• Assisting (if required) in the completion of the property information forms
• Drafting contract and sending this with supporting documents to the buyer’s solicitor
• Assisting in the replies to enquiries before contract
• Considering and amending (if required) the transfer document and arranging for this to be signed
• Exchanging contracts which commits you to the sale on a specific date at a specific price and agreeing a completion date
• Obtaining a redemption statement from the mortgage lender if any
• Preparing your completion statement
• Completing the sale
• Arranging the repayment of any mortgage loan and a discharge of any mortgage.
• Dealing with any post completion matters such as retentions of service charge

Objectives

We will

• Advise on any covenants rights or regulations (if necessary)
• Advise on the terms of the contract and that:
  • It complies with your instructions
  • It’s fair and reasonable
  • Places no abnormal obligations on you
• To complete the sale, discharge any mortgage, settle the agents account (if any) before forwarding any remaining funds due to you

Time Frame

Property matters can sometimes reach exchange of contracts and completion quickly but based on our experience normally we would hope to be able to complete your transaction, if you are in a chain, within ten weeks. This time scale is not fixed as it depends on other parties being prepared, willing and able to work to them. Completion dates are normally a matter of negotiation between the seller and the buyer shortly before exchange of contracts, via the Estate Agents.

Quoting for your Transaction

We will send you a quote for costs and disbursements together with a Client Care bundle. Our charges are fixed and there may also be expenses we incur directly on your behalf (disbursements; which includes things such as search fees and land registry fees).   Value of added tax at the current rate will also be added to our costs.

The estimate we send you assumes that the transaction proceeds smoothly. Certain issues may result in having to revisit the estimate as the matter proceeds.

This could include things such as

• Problems with the title of the property
• Problems with the boundaries of the property
• Unexpected issues raised in searches
• Problematic or incomplete documentation supplied either by your lender or yourself

Mortgage Issues

The above list is not intended to be exhaustive but should any such issues arise we’ll provide you with a revised estimate at that stage and explain the reasons why.

If your transaction does not proceed for whatever reason we will still charge you fees and disbursements for the work we have carried out to that date.

Other aspects of conveyancing which are available

• Variations on the conveyancing process
• Assisting in negotiating terms before the contract is prepared
• Variations on the terms of the contract
• Variations on searches on a purchase
• Option agreements
• Claw back agreements
• Private mortgages or loans
• Bridging loans
• Wills
• Declarations of trust
• Beneficial interest in property
• Joint ownership
• Cohabitation agreements
• Licenses
• Leases
• Tenancy agreements
• Boundary issues

Extent of Retainer

We will only deal with the legal aspects of the transaction. We do not advise on any other matters relating to the property.

We are not:-

• Qualified to give investment advice
• Independent insurance advisors or brokers
• Where we offer to obtain or provide an insurance policy this is solely based on legal requirements and no advice is given in respect of the premium or whether cheaper policies are available elsewhere
• Accountants or tax specialists. We can give you an amount regarding the stamp duty land tax which will be payable on a transaction but we cannot advise you in respect of your tax implications
• Generally able to visit the property unless specifically requested to do so (for which we will charge an additional fee). It is for you to check the plans provided by us in respect of the property to ensure they accurately reflect the property on the ground
• Able to confirm that the structure of the property is safe and satisfactory and complies with all planning permissions and building regulations consents
• Able to advise you as to whether the purchase price of the property is fair and reasonable
• Surveyors and cannot advise on both general and specific issues arising from your survey
• Going to transfer any utilities, phones, council tax for you. This must be done directly with the relevant authority or utility providers by you
• Removal experts