Anyone experience with deed of covenant?

greatcrested

ftb_needs_advice said:

It’s for me obviously once I’ve bought it. The seller already has a deed I need one for me before I can exchange.. that’s not my question though 

I didn't ask 'who'. I asked 'what'?

And yes, you have a duplicate thread.

jaxkesa

ftb_needs_advice said:

It’s for me obviously once I’ve bought it. The seller already has a deed I need one for me before I can exchange.. that’s not my question though 

The seller should be paying for this as part of their legal costs, not you, and they should be chasing it as part of their sale.

If you've paid for it then the seller has been a bit naughty!

Tiglet2

jaxkesa said:

ftb_needs_advice said:

It’s for me obviously once I’ve bought it. The seller already has a deed I need one for me before I can exchange.. that’s not my question though 

The seller should be paying for this as part of their legal costs, not you, and they should be chasing it as part of their sale.

If you've paid for it then the seller has been a bit naughty!

 Not necessarily true.  The seller pays for the management pack but if buyers have to enter into a Deed of Covenant, the cost of this is set out in the management pack and is often a fee which the new purchaser pays, along with the Notice of Transfer and Notice of Charge fee.   The Deed of Covenant is a document which a new purchaser will sign to say that they agree with the lease terms.  It is a legally binding agreement between two people that states that one person will pay the other an agreed amount - to pay ground rent and service charges, and to observe certain restrictions.  

jaxkesa

Tiglet2 said:

jaxkesa said:

ftb_needs_advice said:

It’s for me obviously once I’ve bought it. The seller already has a deed I need one for me before I can exchange.. that’s not my question though 

The seller should be paying for this as part of their legal costs, not you, and they should be chasing it as part of their sale.

If you've paid for it then the seller has been a bit naughty!

 Not necessarily true.  The seller pays for the management pack but if buyers have to enter into a Deed of Covenant, the cost of this is set out in the management pack and is often a fee which the new purchaser pays, along with the Notice of Transfer and Notice of Charge fee.   The Deed of Covenant is a document which a new purchaser will sign to say that they agree with the lease terms.  It is a legally binding agreement between two people that states that one person will pay the other an agreed amount - to pay ground rent and service charges, and to observe certain restrictions.  

Well I had this exact same situation and solicitors agreed that the seller had to pay for it (about £300 I think). Maybe it depends on what the solicitors agree?