What to Look At and Ask When Viewing

DrStep

keithmdw wrote:

Thanks. I will.

The EA said when I asked on the phone it was £50/year ground rent and £150/year service charge, but didn't say what it covered, so I will ask that at the viewing.

I thought it cheap myself, but time will tell.

That is ridculously low. I wouldnt believe it. Even if it were true- I firmly believe it will shoot up.

Its sounds naughty - but knock on one of the neighbours and say you are looking to move into the block - ask them about service charges etc and how much they go up by each year.

keithmdw

Following a second viewing yesterday we have put an offer in. Below asking price (but not too much as the seller has already declined a previous below-asking offer by someone).

EA and other local residents (not in same appartments) confirmed ground rent and service charge. The area was really bad many years ago, and has subsequently had £multi-million regeneration work done by a charity set up to regenearte the area. The charity are subsequently ground landlords for almost all the new properties and as such are not out to rip anyone off and keep the charges low to encourage growth and regeneration.