Expenses likely to be shown in the service charge accounts in the next three years

propertyman

Tirian wrote: »

Yes, seen annual accounts (enclosing copy with the solicitors forms in fact). No sign of a sinking fund.

What they are trying to get at, and with a poorly phrased set of enquiries is

1: Do you know of any current expenses or immediate expenses, otehr than the current estimated service charge that you pay. The £1500 is such an expense.

2: it is asking about the next three years and you should say not as far as we are aware but make it clear the buyer should make enquiries of the landlord/freeholder and their managing agents an by inspecting the block/estate.


Share of £1500. As this is yet to be billed it looks as if it will be included in the manual accounts and billed as an "overspend".

The solicitors will between them agree to hold a retention or undertaking for any expenses for that period apportioned up to your completion date ( eg year end is March you complete Dec, so you pay 9/12ths of the overspend).