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Paying Management Pack for Vendor
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The management pack was a requirement for my sale even though I had all the documents as I had purchased 3 years before. Mine cost £275!0
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propertyman wrote: »what pasting at 9.32 and chasing a reply 30 minutes later
In fact in most cases it is the purchaser who pays for the information and makes the request as they have particular questions and issues in mind, rather than the vendor.
If he is happy pay for it embrace the offer and take it !
Are you thinking of the Local Authority search? Buying, Selling, Buying leaseholds and I have never, as the buyer, paid for the Management Information pack - this is something the seller needs to provide (although as others said, it's usually a management agent or local authority charging several hundreds of pounds for information the seller has provided already - except maybe for details of planned major works, which could really impact the asking price!).
OP - be aware that the management company will issue the pack to your vendor's solicitors, not to you, it will be his property which you have paid for. What's to stop him pulling out of the sale and keeping it for a different buyer (who could come along before the info expires)? Also, the management information pack can take ages (over a month for the flat I've just sold) which is a long time for things to go awry, especially if you suspect his general financial situation is precarious.
Even if you get an agreement that he pays you back regardless of completion, if he pulls out and doesn't have the cash you're creating a lot of stress for yourself chasing the debt through small claims etc.
Could he not get a credit card, or use an existing one, to pay for the pack? Or as hazyjo says, suggest the EA covers him0 -
It's all very well something being put in place for a refund at completion (which can be done by the solicitors), but what happens if you decide not to proceed for some reason e.g. the lease is half the length you were told, or mortgage related?
You've spent £400 and got nothing for it.0
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