PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Managing agency stalling sale

Options
Hi,
I am currently in the process of buying a small flat in London. The conveyancing process started about three months ago. The mortgage is arranged, surveys done; the vendor's solicitor has agreed to some small rebate to compensate for a failed search, everything is sorted and agreed, except...
... that the managing agency was supposed to supply a list of renovations to be done, last January. It hasn't done that so far, and my solicitor wants the details before proceeding to exchange. The enquiry has been raised two months ago, it has been acknowledged only two weeks ago and obviously there's no trace of an answer yet. The vendor's solicitor is constantly chased by the estate agent and my own solicitor, and they seem pretty responsive anyway -- the stall seems entirely due to the managing agency, and due to the breadth of the answer needed, I fear it might take longer still.

I am really growing impatient, and every month is a month where I am still paying a rent and have stuff upheld by waiting to move in. Is there anything that can be done to speed up things? Also, am I buying myself a problem by buying a flat managed by someone so unresponsive, or is that alas normal and to be expected?
«1

Comments

  • m0bov
    m0bov Posts: 2,694 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Can you speak directly with the vendor? Or at least the EA and tell them you are unable to proceed until you get the answers.

    Might also be worth looking around at other properties whilst you wait.
  • tiny_jackal
    tiny_jackal Posts: 31 Forumite
    10 Posts First Anniversary
    edited 22 May 2018 at 12:19PM
    The estate agent is well aware and sympathetic to the issue. It's just the managing agent, the only party who hasn't got skin in the game, so to speak, that it's taking its time; I have no criticism to raise against any other party involved. Even the vendor has been reasonably responsive so far, all considered.

    The reviews of the managing agency on the web are appalling, by the way. I emailed them direct two weeks ago and obviously didn't get an answer.

    I am tempted to restart house-hunting but that property is such a good compromise between what I want and what I can afford, that I'd be gutted if I couldn't buy it...
  • Jox
    Jox Posts: 1,652 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    The managing agent was the bane of my life too when I was trying to sell my flat, I had to pay £300 for a pack and they would drag their feet liaising with the solicitors so I had to make multiple calls to them but I did sell my flat in the end! Could you try to call them yourself directly and say that you would appreciate their speedy response?
  • tiny_jackal
    tiny_jackal Posts: 31 Forumite
    10 Posts First Anniversary
    Yes, I shall call them -- unlikely to produce results, but what I've got to lose... :)
  • m0bov
    m0bov Posts: 2,694 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Its really down to the vendor, they are the leaseholder.
  • tiny_jackal
    tiny_jackal Posts: 31 Forumite
    10 Posts First Anniversary
    I am not sure what they could do, apart from chasing?
  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    Yep, that's all they can do. But they are the only people who can do it as no-one else has a contract with the freeholder.
  • tiny_jackal
    tiny_jackal Posts: 31 Forumite
    10 Posts First Anniversary
    As a side note, I wonder what contractual power they have towards the managing agent (interested question, as such contractual power or lack thereof will be transfered to me afterwards...).
  • NeilCr
    NeilCr Posts: 4,430 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Who is the freeholder?

    The residents don't own the freehold do they?. If they do, they employ the managing agent so may be able to put some pressure on.
  • tiny_jackal
    tiny_jackal Posts: 31 Forumite
    10 Posts First Anniversary
    It's a share-of-freehold situation. It's a flat, so I guess that the managing agent can be changed if everyone in the estate agrees they are delinquent, but my vendor probably has limited individual power, as the others have as well on their own.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.6K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.