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Finally nearing completion but something else irritates me
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You need to make sure your solicitor gets a retainer too, the service charge bills are estimates until the end of year accounts are done. So even if they pay for what they currently owe, there could be another bill due for when they owned but is not sent until after you've completed and it's your property.Dannydee333 said:
Exactly, why didn't they? Not my problem.Because 'chasing' them may be completely futile once they have sold the lease, as the debt is then unsecured. The question I would be asking is why they have been able to run up 20 months of service charge arrears without the LL or management co. taking some action?
You can reject whatever idea you like, but you are bound by the law as it is, not how you might wish it to be.
It is a stupid "law" ... but anyway, the ball is now in their court as the contract has been sent and one of the conditions is that the debt is paid out of the money from the transfer.0 -
The statement says it's arrears up to April 2024. So that should be good?
My solicitor has also listed a "clear and unprejudicial service charge statement" as a condition... Which essentially covers this, right?0 -
Welcome to the world of leasehold... enjoy your stay... I'm out of here!Dannydee333 said:
Do not assume it's not your debt!!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!!
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.
#EndLeaseholdCredit card: £8,524.31 | Loan: £3,224.80 | Student Loan (Plan 1): £5,768.55 | Total: £17,517.66Debt-free target: 21-Mar-2027
Debt-free diary2
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