Finally nearing completion but something else irritates me

NameUnavailable

Dannydee333 said:

I'm still very irritated at the vendors for messing me around, but even more so now for this additional kick in the teeth having been lied to about the fee.

is not mine. So I don't need to worry about it. Plus, it's literally in the vendor's name. I have a copy of the invoice.

I transferred funds to the solicitor to get this thing closed because I've been fed up with these vendors for at least 2 months now.

The home-buying process can be extremely aggravating.

Next time I'll be a cash buyer.

You MUST get your solicitor to ensure that the debt is settled by the vendors at completion!!

If you buy the lease and it's not settled you could be liable to pay it. Most solicitors will keep a retention against unknown service charge balances (i.e. where the amount for the year isn't yet determined) but this is a known debt. Do not assume it's not your debt!!

Hoenir

Dannydee333 said:

user1977 said:

Dannydee333 said:

user1977 said:

As above unfortunately this is largely the inevitable result of "money-saving". I wonder who to blame for that...

If this is implying it's my fault 

No, it isn't. 

Cool... it seems to be implying something, though, but sounds rather cryptic. Who were you talking about?

In any walk of life. If you desire a concierge level of service you pay for it. Individuals working in a conveyacing department. Have to earn sufficient fee income not only to pay their wages, but also the rent, rates, telephone, insurance , building repairs, professional subscriptions etc etc. 

user1977

Dannydee333 said:

user1977 said:

Dannydee333 said:

user1977 said:

As above unfortunately this is largely the inevitable result of "money-saving". I wonder who to blame for that...

If this is implying it's my fault 

No, it isn't. 

Cool... it seems to be implying something, though, but sounds rather cryptic. Who were you talking about?

The big popular website with its focus on money-saving? Encouraging everyone to focus on cost rather than anything else?

MeteredOut

Most likely someone forgot the (often in small print) "+ VAT" when communicating with you.

Slinky

If you think your six months is irritating, our cash purchase of an empty, probate granted freehold house took six months, we were aiming at 2-3. The vendor was at fault, unwilling to get their !!!!!!$ into gear to clear the property, dragging their feet, going on holiday (ok fair enough) and eventually causing us to lose 90% of the money we paid for a holiday we had to cancel because it dragged on so long and we had to cancel ours. Due to my work situation we had only a short window of time we could complete and it was cancel the holiday or pull out completely. 

I should have seen red flags when I spotted there was still food in the kitchen cupboards when we viewed the property, and the relative had been deceased for a year.

Dannydee333

NameUnavailable said:

You MUST get your solicitor to ensure that the debt is settled by the vendors at completion!!

If you buy the lease and it's not settled you could be liable to pay it. Most solicitors will keep a retention against unknown service charge balances (i.e. where the amount for the year isn't yet determined) but this is a known debt. Do not assume it's not your debt!!

Do not assume it's not your debt!!

It quite clearly isn't my debt tho, I've seen the statement and it's in the vendor's name. I have of course read online that management companies have chased new owners for a previous owner's debt but that is diabolical. It's literally not in my name, nor am I responsible for anything before my completion date. To try and hit me with someone else's bill would be ridiculous.

Any vendor that allowed someone else to pick up their debt would be a horrible person, but I don't believe that's going to happen in this case. My solicitor has requested this be cleared upon or before completion, and I recall the vendor telling me way back in October that it would be.

NameUnavailable

Dannydee333 said:

NameUnavailable said:

You MUST get your solicitor to ensure that the debt is settled by the vendors at completion!!

If you buy the lease and it's not settled you could be liable to pay it. Most solicitors will keep a retention against unknown service charge balances (i.e. where the amount for the year isn't yet determined) but this is a known debt. Do not assume it's not your debt!!

Do not assume it's not your debt!!

It quite clearly isn't my debt tho, I've seen the statement and it's in the vendor's name. I have of course read online that management companies have chased new owners for a previous owner's debt but that is diabolical. It's literally not in my name, nor am I responsible for anything before my completion date. To try and hit me with someone else's bill would be ridiculous.

Any vendor that allowed someone else to pick up their debt would be a horrible person, but I don't believe that's going to happen in this case. My solicitor has requested this be cleared upon or before completion, and I recall the vendor telling me way back in October that it would be.

The invoice may be in the current owners name but if they don't settle the debt then it will pass to you when you become the new leaseholder and liable for associated service charges etc.

saajan_12

Dannydee333 said:

6 Months being "standard" to buy an empty apartment is ridiculous. Yes, I keep using that word because despite this being my first purchase, I'm amazed that no one seems to have done anything to make the process quicker. Like, WHY does it take 6 months? Couldn't it be done in 2 or 3? If not, why not?

Because
1. One of the parties in leasehold properties is the freeholder/management co. They have no obligation or real incentive in the transaction being faster or slower. 
Solution could be to have leases include a requirement on the freeholder to provide xyz information upon request for a sale, within a tight turnaround for a limited fee. It's not there ein standard leases though. 

2. There's nothing sexy about conveyancing, so buyers don't care about the details before they engage one. So conveyancers advertise based on cost not services or speed. They charge a minimal price for legal work, hence can't afford to be more proactive, instead just send a chaser email and work on the next thing.

3. The law is very buyer beware with no guarantee or warranty process. As such, conveyancers & surveyors have to check everything individually eg flood searches, title searches, property condition etc, even if it was done eg for a recent prior sale, or for the house next door. 

Dannydee333

NameUnavailable said:

The invoice may be in the current owners name but if they don't settle the debt then it will pass to you when you become the new leaseholder and liable for associated service charges etc.

Again, that's completely ridiculous.

I'm responsible for associated service charges from the day I become the OWNER, not before.

Do management companies not have a general grasp of logic? Sending out a bill that's in someone else's name expecting someone who's not responsible for the bill to pay it? That is so stupid that it's laughable.

eddddy

NameUnavailable said:

The invoice may be in the current owners name but if they don't settle the debt then it will pass to you when you become the new leaseholder and liable for associated service charges etc.

That's not strictly correct.

Section 23 of The Landlord and Tenant (Covenants) Act 1995 essentially says that a previous leaseholder's liability for unpaid service charge bills doesn't pass to a new leaseholder.

BUT... if the previous leaseholder hasn't paid their service charge.... the freeholder can still forfeit the lease.

So put another way, the previous leaseholder (and not you) will owe the £2000 outstanding service charge, but your flat could be repossessed if it isn't paid.


But any conveyancing solicitor should be well aware of this, and make sure that the outstanding service charge is paid on completion - out of the purchase money.