Selling your home

The legal process & your lease

The legal process of selling your home depends on the type of lease you entered into when you originally purchased. At the outset all Plumlife properties are sold on a leasehold basis. Some are held on assignable leases, some unassignable.

An assignable lease is a lease which can be sold directly by a resident to another purchaser without Plumlife having responsibility for the legal transaction.

An unassignable lease cannot be sold directly by one owner to another. It must be surrendered to the owner of the freehold (in this case, Plumlife) so that a new lease can be created and granted to the new owner.

The freehold of a Plumlife property remains subject to legal requirements which mean that Plumlife still has certain rights over the property which must be respected when a sale is in progress. It is therefore most important that we are aware of a prospective sale so that Plumlife's solicitor can be informed.

Plumlife will be pleased to clarify your particular position and outline your situation if you ask.

The sales transaction

Properties held on an assignable lease or freehold Once a buyer has been found, your solicitor should contact Plumlife for legal approval of the buyer, to establish any sums of money owed to Plumlife and obtain any other relevant information. Your solicitor should then carry out the legal work as for any other sale.

Properties held on an unassignable lease

All legal transactions must be completed through Plumlife. Owners must ensure they inform their solicitor of Plumlife's interest.

Plumlife may require payment for legal work and administration, on which VAT applies.

Land Registry search fees plus any cancellation fees may also have to be added.

Who may buy your home?

Some leases require that residents must normally be of retirement age (55 years or over). The property can be bought by someone who is not retired, for example a son or daughter, but Plumlife must be assured that the occupier will be of retirement age. Please check your lease to see if this restriction applies.

Plumlife is not allowed to let or sell properties to people on the Committee or any Plumlife employee, or any close friend or relative of such a person.

Finding a buyer

It is important that you inform Plumlife that you wish to sell your home and state how you intend to find a buyer. Plumlife will be happy to help you decide how to go about finding a buyer if you are unsure. You could:

• appoint an estate agent
• sell personally
• advertise in the local paper