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Factor Fee Query (Property Management Agency)
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Gazza68
Posts: 131 Forumite
Wonder if anyone could please advise.
We sold our flat a few months back and FINALLY (yippppeeee) we do not have to deal with a factor anymore (aka property management agent). Recieved the last statement from them, and they've slapped on a £60 fee for 'Change of Ownership/Administration'.
First of all is this normal practise, and if it is, isn't it a bit on the high side? (What do they actually do to justify that amount?)
If I gotta pay it then OK, but would rather have spent that money of Christmas presents........
Appreciate any feedback. Thanks
Gazza
We sold our flat a few months back and FINALLY (yippppeeee) we do not have to deal with a factor anymore (aka property management agent). Recieved the last statement from them, and they've slapped on a £60 fee for 'Change of Ownership/Administration'.
First of all is this normal practise, and if it is, isn't it a bit on the high side? (What do they actually do to justify that amount?)
If I gotta pay it then OK, but would rather have spent that money of Christmas presents........
Appreciate any feedback. Thanks
Gazza
0
Comments
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When you agreed your contract with them, did you agree to this in the small print? If you are not sure, then put the question back to them: "We are not aware of this fee being due, could you kindly substantiate this fee as being due under our contract?" You could keep the question running for ages and make them work for their £60 - if they never substantiate it, then they will have a job making it stand up in court, particularly if you keep the correspondence and can show that they have never substantiated.Wonder if anyone could please advise.
We sold our flat a few months back and FINALLY (yippppeeee) we do not have to deal with a factor anymore (aka property management agent). Recieved the last statement from them, and they've slapped on a £60 fee for 'Change of Ownership/Administration'.
First of all is this normal practise, and if it is, isn't it a bit on the high side? (What do they actually do to justify that amount?)
If I gotta pay it then OK, but would rather have spent that money of Christmas presents........
Appreciate any feedback. Thanks
GazzaAfter the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0 -
Thanks Incisor,
Good idea....
It was a new build, having bought in the final phase of the development, at which time the pm agent had already been selected. But having said that, I've just checked the deeds of sale, as well as the factors 'information pack for new purchasers' and there is no mention of what happens, costs, etc when the property is resold.
Still waiting for them to refund me the float deposit (£150), so what I think I'll do is send them a cheque for the amount due, less the £60, and ask as per your previous comment.
Cheers, and appreciate the input (MSE is a great 'sound board'!)
Gazza0
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