Lease variation

76ben

Hoping someone can offer advice on the following:

I bought a leasehold flat in 2005 and am now selling. In 2005 the existing lease was varied but now my buyers solicitor is sighting it as defective.

The flat is currently tenanted and the tenacy expires at the end of May.

The crux of the matter seems to be the lack of plans to show the boundaries of the flat and an access path at the side giving right of way to a small yard at the rear which is mentioned in the lease. I do have a floor plan.

My solicitor is going to check with land registry and I am applying for a copy of my deeds however my solicitor feels that my buyers solicitor will want a new lease at my expense.

Thats my solicitors fees, the landlords fees & surveyors fees - I am looking at 3k!

I am unable to proceed financially if it comes to the above as I dropped the price of the flat considerably to sell and the seller is getting a bargain.

I am considering taking the flat off the market, arranging a new lease (if I have to) and putting it back on the market at an increased value to cover the cost of the new lease.

I understand that this is a grey area but would appreciate some advice.

Thank you.

eddddy

It's entirely down to negotiation.

If the buyer wants/needs a lease variation, it's a matter of negotiating who pays for it - or how the fee is split.

If you can't pay, and the buyer refuses as well, then the sale won't happen.

If you're saying that your solicitor made some kind of mistake in 2005, there may be a possibility of claiming against them.

G_M

I'm a bit bemused by

My solicitor is going to check with land registry

Presumably your solicitor already has both the leasehold Title, and the lease itself + variation. And probobly the freehold title as well.

What exactly is he going to 'check'?

76ben

Thanks for your reply.

Thats interesting my solicitor seemed to be of the opinion that I would be liable for all fees and did not mention negotiation.

I did enquire regards negligence on the solicitors part when I purchased the flat but my solicitor said that land registry are now refusing variations of deeds but obviously if when I bought the flat the plans were requested and made good I would not be in this position now.

I think I will look into this.