Leasehold/majors works

kgdo

Hi, I am FTB so really new to all this - could some one advise me on the following:
I’m currently interested in purchasing a leasehold flat in London. The vendor when I went to view it mentioned there were upcoming works in the estate and actually listed all the things the were due to be repaired/maintained. When I contacted her after this to find out what the estimates for the bill would be she advised that I would have to make an offer first and that then the leasehold pack would be obtained with the details.
Should the vendor not know this information already as leaseholders need to be consulted first if it’s over a certain amount? To me it seems illogical to pay for solicitors to obtain the pack to then tell me for instance it’s thousands of pounds which I could not afford! 

How does it normally work?
Thank you!!

eddddy

kgdo said:

How does it normally work?

There isn't really a standard answer.

But based on what you say, the vendor is being silly.  If a buyer is going to have a big 'major works' bill to pay, of course they want to know what it's likely to be before they make an offer.


Unless perhaps there has been a misunderstanding.

Something called a 'Section 20' consultation is probably happening.

• The first stage is a notification of intention to do the work
• The second stage is notification of estimates of cost

Has the consultation actually reached the second stage? Has the seller received estimates? Or is the seller saying that it's only reached the first stage, and if you make an offer, the estimates will be available via your solicitor soon?

But if the seller has the estimates, and is refusing to tell you what they are - they are just being silly.

Is an Estate Agent involved in the sale? If so, speak to them. Hopefully, they will make the seller see sense.

Schwarzwald

if they already know the cost estimate, i would expect them to disclose it.
if they only know there are major works scheduled, but not yet priced, you can argue that these are just part of being a leaseholder and should not affect your valuation.

I found myself in a situation last year, where I had offered on a place in London, leasehold, and after acceptance, i found out that there have been major works already scheduled and budgeted at around £12-15k, for upkeep work, not value-added work.
I told them I had expected them to disclose and we settled on a £5k price reduction.

NameUnavailable

Find out who the management company is and give them a call, they should tell you what stage things are at.

hazyjo

Is it ex-LA? I'd tread very carefully if so! Likely to be VERY pricey.

eddddy

NameUnavailable said:

Find out who the management company is and give them a call, they should tell you what stage things are at.

TBH, I'm not sure that a management company would give any information about anything to a 'random stranger' who phones them.


(And if they did, they might get loads of calls from loads of prospective buyers about all kinds of things.)

kgdo

Thanks everyone for the replies. It’s listed via purple bricks so no estate agents. I requested the estimate from her one last time and she did not reply so I have left it, just seems too much cloak&dagger!