Leasehold Sellers Should Prepare Early

Selling a leasehold property can involve more information than selling a straightforward freehold home.

That is why I would prepare as much as possible before a buyer is found.

Make sure your agent has a copy of the lease and understands important information such as the lease length, service charges and any major works you know about.

Your solicitor can also help you prepare the relevant leasehold paperwork in advance.

There may also be a management pack from the managing agents.

The book points out that there is some judgement involved in ordering this too early because the information may only remain valid for a limited period and could need to be ordered again if the property takes longer to sell.

But you should at least understand what will be required.

The same principle applies if the lease is short.

Do not allow a buyer to discover that halfway through the transaction.

Make the information available early and investigate the position so everybody understands what is involved.

Leasehold sales can generate questions.

That makes preparation even more valuable.

If the agent and solicitor already have the information they need, you are in a much better position once an offer arrives.

The objective is simple: remove avoidable delays before they happen.