Sale of Leasehold Residential Property

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The precise stages involved in the sale of a leasehold residential property vary according to the circumstances. However, the details below will give you an idea of the key stages:
Key Stages
The key stages involved in selling a leasehold residential property are as follows:

  • Take your instructions and give you initial advice
  • Check title to the property and contact any mortgagee with regard to obtaining deeds and a redemption statement if needed
  • Obtain a leasehold information pack from the relevant landlord/managing agent
  • Prepare a contract pack and submit this to the buyer’s solicitors
  • Obtain any relevant planning documentation if required
  • Respond to any necessary enquiries raised by the buyer’s solicitor
  • Give you advice on any enquiries raised by the buyer’s solicitors
  • Send agreed form to you for signature
  • Approve transfer prepared by buyer’s solicitors
  • Deal with any pre-completion search enquiries raised by buyer’s solicitors
  • Agree completion date
  • Exchange contracts and notify you that this has happened
  • Arrange for you to sign the relevant documentation required for completion
  • Complete sale
  • Deal with discharge of any existing mortgage and remit net proceeds of sale to you
If you need any advice on the sale of a leasehold residential property then please email us and we will respond as soon as possible, or call us on 01923 225212.

Penman Sedgwick's opening hours:

Monday to Friday, 9.00am – 5.30pm