Do I need 2 assignement packs?

Shneckles

I'm using what is basically an online solicitor and it's like talking to a robot, emails just stating "send this money" "send that" and i'm a bit done to be honest. 

I have already paid just over £200 for an assignement pack from the management company (Bloq), now they want me to send over another £210 for an assignement pack from the ground rent folk? (Homeground). Is this neccesary?

This wasnt in my quote at all either when going to the solicitor, I know theyll claim it wont cost the same from every company blahblahblah but put an estimation on you're not stupid.

Thanks for your help in advance,

Shneckles

I should add, I am selling a flat.

Tiglet2

Yes, unfortunately where there are two managing agents - one managing the service charges for the communal areas and one managing the ground rent, your buyer's solicitor will expect both packs.

The cost of assignment packs are rarely known to the solicitor when you first instruct them.  It is a third party fee, so solicitor quotes don't include them.  They will however advise that there will be disbursement payments and third party fees and these are always additional to the solicitor fees.  The solicitor will write to the managing agent to ascertain the cost of providing the pack, but this won't be known until the managing agent responds.

Shneckles

Tiglet2 said:

Yes, unfortunately where there are two managing agents - one managing the service charges for the communal areas and one managing the ground rent, your buyer's solicitor will expect both packs.

The cost of assignment packs are rarely known to the solicitor when you first instruct them.  It is a third party fee, so solicitor quotes don't include them.  They will however advise that there will be disbursement payments and third party fees and these are always additional to the solicitor fees.  The solicitor will write to the managing agent to ascertain the cost of providing the pack, but this won't be known until the managing agent responds.

Thanks Tiglet, Yes having done some digging it's unavoidable, seems like a non-optimal setup to be honest, but who cares when there's profit?!

Bit the bullet

penners324

Both companies (one works for freeholder the other works for the leaseholders) need to confirm to your solicitors quite a bit of information.

So collating that information requires time by each company.

So they charge.