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littleblue735
Posts: 70 Forumite
I am looking at the Ex-MOD houses at Wittering and the EA say that there is a yearly maintence charge for communal areas etc, which is about £200 pa they believe. The management company is Preim and I have found this on their website-
Property Sales -For freehold
– property sales we can issue a Compliance Certificate to comply with the restriction at the Land Registry in favour of the management company, and a “B” share in the management company. In order to provide this we require: Deed of Covenant completed and signed by the purchasers and inclusive of the completion date
Stock Transfer Form completed (Full buyers and sellers names in correct boxes) and signed by the sellers
The original Share Certificate or a letter (in place of the original share certificate) from the sellers themselves confirming that the share certificate is lost or never received.•
Service charges and any other debts to the Management Company paid in full
£120+VAT = £144.00 for our administration fees (Separate to the sellers pack fee)
Obviously I will be taking advice from a Solicitor if I do proceed, but does anyone have any advice on what this may involve if I buy one of these properties??
Property Sales -For freehold
– property sales we can issue a Compliance Certificate to comply with the restriction at the Land Registry in favour of the management company, and a “B” share in the management company. In order to provide this we require: Deed of Covenant completed and signed by the purchasers and inclusive of the completion date
Stock Transfer Form completed (Full buyers and sellers names in correct boxes) and signed by the sellers
The original Share Certificate or a letter (in place of the original share certificate) from the sellers themselves confirming that the share certificate is lost or never received.•
Service charges and any other debts to the Management Company paid in full
£120+VAT = £144.00 for our administration fees (Separate to the sellers pack fee)
Obviously I will be taking advice from a Solicitor if I do proceed, but does anyone have any advice on what this may involve if I buy one of these properties??
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Comments
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What exactly do you want to know ?0
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I was asking for advice regarding Compliance Certificates. Ive googled it but it seems to relate to Leasehold flats, but these are freehold houses.
So my question is does anyone have any advice regarding buying a house with these conditions attached i.e are they any pittfalls etc.
Sorry if I wasn't clear in asking the question.....0 -
The communal areas will be owned & maintained by a management co.
Each purchase will be issued a share in the management co.
Compliance cert. is for the Land Regy, not the pchser.0 -
The communal areas will be owned & maintained by a management co.
Each purchaser will be issued a share in the management co.
Compliance cert. is for the Land Regy, where presumably some restriction/requirement relating to the communal areas already exists.
Please excuse if I have already posted something similar, I can never remember how to navigate myself away from this blessed reply box!0 -
If you have a freehold property then a third party cannot collect money from you just because you are the owner. They can only do so if there has been a specific binding legal commitment signed by you e.g. in a deed of covenant.
So the people collecting the management charge want to make sure that they get a deed of covenant signed by each incoming buyer - so to make sure that happens there is requirement to obtain a certificate of compliance before the purchase can be registered at the Land Registry. They give that certificate if they get the deed of covenant. You have to pay the extra charges involved I'm afraid.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
That explains alot, many thanks for your replies.0
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We're also having this issue with our freehold property with communal areas managed by a residents committee. Is there a standard charge for supplying the certificate of compliance and who receives it? Is £250 a large amount to pay the management company?0
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