Vendors Management Pack

fastbs

Hello All,

I was just wondering whether anyone had much experience on a ‘management pack’?

Long story short, we were due to exchange on our house last week, however this didn’t happen due to the vendor waiting on a ‘management pack’ for their new property (retirement home). 

We are the only 2 in the chain and the offer was accepted on the house mid September so it has been a very long process up until this time!

so yeah, we were all set to exchange last week when the EA rang to say the vendors related purchase wasn’t quite ready and they were waiting for this management pack. I instantly panicked as I read online these can take weeks to come in, but luckily the EA contacted me again later on Friday to say the vendors solicitors had received the management pack and will need to review it and potentially raise enquiries.
I chased EA again today to see if there was an update and she said there wasn’t  but will chase later in the week.
I can’t help but feel so disappointed that we were so close to coming towards the end of this journey and now the end is out of sight again.
I was just wondering whether anyone had had any experience with a management pack and how long it has taken their solicitors to review/raise enquiries on this? Whenever we have asked for a rough timeline of how much longer we can expect, no one can give us an answer so if anyone has any experience they can share I’d be really grateful!

* I should add our solicitor is also trying to chase the vendors solicitor but having no luck. She’s now advised that we are potentially looking at exchanging towards the end of the month however she is completely unsure and she isn’t sure of what position the vendors solicitor is in. It is all dragging on now and I feel so helpless! It is so draining.

avawat20

Likely to be for a leasehold property or new build/estate with charges for upkeep of communal areas etc. Ours for purchase got to our solicitor on Thursday and we had his report after reviewing it via post on Saturday. Anything further will depend on what's in there and if they have any further queries- we did so sent them off to be answered.

fastbs

avawat20 said:

Likely to be for a leasehold property or new build/estate with charges for upkeep of communal areas etc. Ours for purchase got to our solicitor on Thursday and we had his report after reviewing it via post on Saturday. Anything further will depend on what's in there and if they have any further queries- we did so sent them off to be answered.

That’s good to know, thank you. Hopefully their solicitor reviews it ASAP and gets any enquiries over too. Thanks!

NameUnavailable

It is probably a leasehold property and the management pack will provide detail about the service charges and what has been done and is being planned in the next 5 years.

The solicitor should be checking it all carefully and asking further queries about any items that are not entirely clear from the info provided.

Hopefully it is matter of a week or two for them to review the info and deal with any queries. However it's worth bearing in mind that there's no legal obligation on a freeholder/service company to answer any queries, although most do (I know someone who had trouble selling their flat for this reason).

fastbs

NameUnavailable said:

It is probably a leasehold property and the management pack will provide detail about the service charges and what has been done and is being planned in the next 5 years.

The solicitor should be checking it all carefully and asking further queries about any items that are not entirely clear from the info provided.

Hopefully it is matter of a week or two for them to review the info and deal with any queries. However it's worth bearing in mind that there's no legal obligation on a freeholder/service company to answer any queries, although most do (I know someone who had trouble selling their flat for this reason).

That’s reassuring, we just want things to progress as soon as possible now and are just waiting on this! Thanks for your reply!! 

Kayzielil

Just wondering how long it took for your management pack to come through? Been in the process of buying a house for 3 months. First times buyers with no chain and have waited almost 8 weeks for the management pack, still with no avail! 

parcival

Depends who is providing it. The managing agents for my recent flat sale provided it to my solicitor within a week. Trouble is it then goes to buyers solicitor who may take ages to review and raise enquiries.