Understanding leasehold property sales
When selling a leasehold property, there are extra documents and requirements that must be addressed before exchange and completion.
In addition to the standard contract paperwork, the buyer’s solicitor will require detailed information about the lease and the management of the building. This often includes:
- A copy of the lease
- Ground rent and service charge details
- Management company information
- Buildings insurance arrangements
- Replies to leasehold enquiries (often through an LPE1 pack)
Delays can occur if management information is not requested early or if there are outstanding service charge or ground rent issues.
Our role is to ensure the necessary information is obtained promptly and that your sale progresses as smoothly as possible.
How we can help
Preparing the contract documentation
We draft the contract pack and provide the buyer’s solicitor with the required title documents.
Obtaining the management information pack
We request and review the LPE1 or equivalent pack from the landlord or managing agent.
Dealing with leasehold enquiries
We respond to additional enquiries raised by the buyer’s solicitor.
Advising on service charges and ground rent
We explain apportionments and ensure any outstanding sums are addressed.
Liaising with managing agents and freeholders
We coordinate with third parties to obtain consents and required documentation.
Managing exchange and completion
We oversee key dates, transfer funds and ensure the transaction completes smoothly.
