Selling a Leasehold Property

We understand that selling your home can seem daunting, but we're dedicated to making the process as easy and stress-free as possible. With our extensive expertise in Leasehold conveyancing and a thorough grasp of the legal complexities involved in selling a leasehold property, we’re here to assist you every step of the way.

Your needs come first. We’re committed to providing you with expert guidance, advice, and proactive solutions to ensure your sale moves forward smoothly.

Here’s a concise guide on the information we’ll need from you, current requirements, and simple steps you can take to ensure a seamless transaction:

1. Prepare Your Property

Begin by making necessary repairs and improvements to boost your property’s appeal. Consider decluttering and staging your home for a great first impression on buyers.

2. Determine Your Property’s Value

Obtain a property valuation from a professional appraiser or consult with local estate agents to set a competitive asking price based on market conditions.

3. Connecting with the Right Estate Agent

We can link you with experienced estate agents who are experts in the Leasehold property market, helping you attract the best buyers.

4. Gather Necessary Documents

Collect essential paperwork, including the title deeds (if unregistered) , warranties, guarantees and copies of Planning Permissions and Building Regulations for work done on the property along with evidence of service charge and ground rent payments.

5. Market Your Property

Your estate agent will craft a marketing plan, including online listings, open houses, and professional photography, to attract potential buyers.

6. Host Viewings

Be prepared for potential buyers to view your property. Ensure it is clean and presentable for each viewing.

7. Negotiate Offers

Review and negotiate offers with your estate agent’s assistance. Consider the buyer’s financial position and any conditions attached to their offer.

8. Accept an Offer

Once satisfied with an offer, formally accept it. The buyer may pay a deposit, and both parties will outline the sale terms. You should then notify your landlord of your intention to sell.

9. Instruct a Conveyancer

Engage a Conveyancer to manage the legal aspects of the Transaction. They will prepare the contract, obtain management packs from your landlord and any managing agents, handle legal enquiries, and ensure ownership transfer. Your conveyancer will also advise you on your lease term to ensure this will be acceptable to a potential buyer and advise on the need for a lease extension if required.

10. Draft and Review the Contract

Your Conveyancer will draft the sale contract. Review it carefully to ensure all details are correct and address any questions or issues.

11. Exchange Contracts

When both parties are satisfied, exchange contracts with the buyer. This makes the sale legally binding, and a completion date is set.

12. Complete the Sale

On completion day, your Conveyancer will facilitate the funds transfer from the buyer, and you’ll hand over the keys to the new owner, officially transferring ownership.

13. Settle Outstanding Balances

Your Conveyancer will ensure all outstanding balances, such as the mortgage or any secured charges, are settled from the sale proceeds.

14. Inform Relevant Parties

Notify utility providers, local authorities, and other necessary parties about the change in ownership.

At Embrace Law, our mission is to make your leasehold property sale as straightforward and stress-free as possible. Ready to get started? Contact us today, and let’s make your sale a success!