Leasehold sales are very different to freehold sales and have additional complexities that can surprise sellers. The presence of service charges, ground rent requirements, and lease conditions can make a property look less appealing to potential buyers. These challenges are best addressed by engaging a specialist solicitor for selling property who can help sellers avoid delays and disputes that may jeopardise the sale. Legal advice not only makes the process easier, but also protects sellers against risks of which they might not even be aware. Understanding the Lease A leasehold arrangement differs from freehold ownership in that the buyer is entitled to the property within a specific time frame, as opposed to owning the land. The duration of the lease, ground rent conditions, and maintenance should also be made known to prospective buyers. A solicitor will review the lease, highlighting any abnormal or restrictive terms that may affect negotiations or…
