Management Pack causing delays ....

Weathergirl_76

@cheeky-peach thank you, at least the sun is out today, well it is here in Kent...😊

Tiglet2

Weathergirl_76 said:

UPDATE: the management pack has finally arrived (after 6 weeks) with my vendor’s solicitor.....BUT.....vendor’s solicitor is away this week, and needs to review it before it’s sent on to mine.  So another week to wait, potentially 2 by the time it reaches my conveyancer, then he needs to raise his enquiries. 

I fail to understand why in this day and age, with emails and fax’s etc, it still takes so long for the buying and selling process. I am in a simple chain, cash buyers for my property and my vendor is selling up and moving in with his partner. 

The vendor's solicitor does not review the management pack when received, so an admin clerk is perfectly capable of forwarding the pack to your solicitor, usually by email.  It is your solicitor's job to review it and raise enquiries.  Then the vendor's solicitor will need to refer to the pack in relation to the enquiries raised.

There is no such thing as a simple chain.   Have you reviewed the title?  Have you reviewed the lease? Do you know if the work they've had done has been signed off?  Do you know if the property is built on contaminated land or that the registered proprietor on the title is one and the same person selling to you?

Chain free and a cash buyer is no indication of a simple and straightforward transaction.  People need to stop seeing it like that.

Kel_bels

Weathergirl_76 said:

UPDATE: the management pack has finally arrived (after 6 weeks) with my vendor’s solicitor.....BUT.....vendor’s solicitor is away this week, and needs to review it before it’s sent on to mine.  So another week to wait, potentially 2 by the time it reaches my conveyancer, then he needs to raise his enquiries. 

I fail to understand why in this day and age, with emails and fax’s etc, it still takes so long for the buying and selling process. I am in a simple chain, cash buyers for my property and my vendor is selling up and moving in with his partner. 

It might be because the solicitor is dealing with multiple transactions / clients. They probably review things in date order. 

gab3x

My last management pack (LPE1) cost me £240, originally they wanted £700. Never buy a leasehold! 

Maxwell008

gab3x said:

My last management pack (LPE1) cost me £240, originally they wanted £700. Never buy a leasehold! 

I would never say never lol
But I would agree that selling a Leasehold is never that straight forward, weather its finding a buyer, leasehold issues, the time spend to complete, Major works etc. Yes they can be cheaper especially on RTB.
But £700 for an LPE is a joke.  . .

eddddy

Maxwell008 said:

gab3x said:

My last management pack (LPE1) cost me £240, originally they wanted £700. Never buy a leasehold! 

I would never say never lol
But I would agree that selling a Leasehold is never that straight forward, weather its finding a buyer, leasehold issues, the time spend to complete, Major works etc. Yes they can be cheaper especially on RTB.
But £700 for an LPE is a joke.  . .

Is there a special reason that you chose an 18 month old thread to say that?

Maxwell008

eddddy said:

Maxwell008 said:

gab3x said:

My last management pack (LPE1) cost me £240, originally they wanted £700. Never buy a leasehold! 

I would never say never lol
But I would agree that selling a Leasehold is never that straight forward, weather its finding a buyer, leasehold issues, the time spend to complete, Major works etc. Yes they can be cheaper especially on RTB.
But £700 for an LPE is a joke.  . .

Is there a special reason that you chose an 18 month old thread to say that?

Lol behave edddy, its only Monday,
yes I'm a likkle late to the party but better late then never.

MCR0980898098

gab3x said:

My last management pack (LPE1) cost me £240, originally they wanted £700. Never buy a leasehold! 

How did you get the price down? Mine want £500 and I already have a lot of the info!