Property Sales and Transfers: Facilitating the Sale Process

PMMS Sales & Transfers Team provides:

• Resales Information Pack with all relevant information to complete a Property Sale
• Answer Solicitors questions following the purchase of a Resales Information Pack
• Apportionment Statement to both parties once a Completion Date has been agreed
• Post Completion receive Deed of Covenant, Notices of Transfer and Mortgage
• Issue new Share or Membership Certificates where applicable

If a Resident is selling a flat or house, has engaged an Estate Agent and now has a potential Buyer, then the Buyer’s Conveyancing Solicitor will require information about the property:

• a) if it is leasehold or freehold
• b) whether it is a flat in a block managed by a RMC or RTM
• c) if it is a house on an estate with communal lands where you contribute to the upkeep and maintenance, often called a garden rate, maintenance charge or service charge

There are also a range of questions about the property itself:

• some of which you will be able to answer easily
• others which are of a more general nature and relate to the block or estate as a whole
• and some regards Conditions in your Lease or Covenants about the processes and documentation required for a transfer of ownership to a new lessee or house owner

For all of the properties we manage, PMMS can provide a Resales Information Pack for Solicitors which answer and give guidance on the procedures and documents required to successfully complete the transfer of ownership.

It may be that once the Resales Information Pack has been received there may be further queries, which PMMS will answer for no further charge, for example: whether or not the Lease allows the Sub-Letting of the Property etc.

Once a Completion Date has been confirmed PMMS will provide both parties with an Apportionment Statement of Ground Rent and Service Charge to the Date of Completion. This enables the Solicitors to accurately finalise their own Completion Statement for the overall sale/purchase.

Typically, there will be a requirement for the Buyer to provide the RMC/RTM a number of documents such as a Deed of Covenant, a Notice of Transfer and Mortgage and possibly the surrender of a Share or Membership Certificate in the RMC/RTM.

PMMS in its role as Company Secretary will deal with these on behalf of the RMC/RTM including the issue of a new Share or Membership Certificate where appropriate.