Leasehold Sale Completed Under Time Pressure

The Situation

We acted for a client in the sale of their leasehold flat, where the freehold was jointly owned by two individuals. One of the joint freeholders had left the country, making it difficult to obtain the leasehold information required for the sale.

The required leasehold information could not be finalised without input from both joint freeholders, meaning the transaction was unable to progress. The matter was particularly time-sensitive, as the buyer’s mortgage offer was due to expire, placing the transaction at risk of falling through.

To add an extra challenge, during the transaction, the joint freeholder’s conveyancer also sought to increase their fees for providing the required information, creating a further issue for our client.

The Approach

Rather than allowing the matter to stall, our team took a proactive approach. We persistently chased the available joint freeholder and, once instructed, the absent joint freeholder’s solicitors to obtain the outstanding information.

We maintained regular communication with our client and the buyer’s solicitors, managing expectations throughout the process. We also reviewed the documentation provided and raised further enquiries where necessary to ensure the buyer’s solicitor and lender had everything they required.

When the joint freeholder’s solicitors sought to increase their fees for providing the required information, we challenged the additional charges and successfully negotiated for our client to pay only the standard fee for supplying the documentation, avoiding unnecessary additional costs.

The Outcome

Through consistent follow-up, effective management and a focused approach, we secured the outstanding documentation in time for the transaction to proceed to completion before the buyer’s mortgage offer expired.

This matter demonstrated our ability to take ownership of a complex transaction, overcome issues outside of our client’s direct control, protect their financial interests and deliver a successful outcome under significant time pressure.