• DIY Conveyancing For Sale Of Leasehold Flat With Share Of Freehold

    By Guest on 03rd Mar 2016

    Your advice regarding feasibility of DIY conveyancing in sale of a leasehold flat is welcomed. The flat is 1 of 12 registered leasehold flats in the block and in which each the 12 owners have 1/12 of the freehold. The management company is made up of the residents, 3 of which are directors. There is no mortgage to be redeemed on the flat.
    Will I need to create 2 contracts - one for the leasehold element and one for the freehold?
    If using a solicitor, they would normally handle money transactions through a client account. So, if DIY, how is the money handled? Who holds the deposit? How is full payment finalised?
    Given the above, which of all the documents available on your site would be necessary/beneficial to our cause please?
    Thank you.

  • 1 Answers

    By Guest on 06/03/2016


    It might be worth getting the transfer of equity kit which covers the basic process of transferring ownership as well as the contract for sale - registered leasehold. As for the deposit, you will either have to exchange and complete on the same day or exchange on a nil deposit. You don't need two contracts, you can just put the freehold title number on the contract and alter the description of the land.

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