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Management co. fees for info
Yerf
Posts: 1 Newbie
I have agreed sale of a 2 bed leasehold flat, part of a managed block. I provided my solicitor with details of the last 3 years management fees, insurance etc but he has some further questions for the management company to satisfy the purchasers solicitor. The management company will not answer these few questions but instead refer to their list of pre-sales enquiry option packs. The ones required to answer the questions cost me £534! These packs contain a mass of unnecessary info, most of which I have provided and 
much of which is freely available/public domain!!
Does anyone think I have any chance of challenging this fee?
much of which is freely available/public domain!!Does anyone think I have any chance of challenging this fee?
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Comments
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Well you can always ask but if they say no then you have to pay up if you want to sell!
TBH legally they don't even have to provide anything and so technically you may never be able to sell to a buyer who requires the management pack!0 -
the joys of buying a leasehold flat, you are at the mercy of the management or in this case 'The Syndicate'"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Check out this current thread: https://forums.moneysavingexpert.com/discussion/57051572024 wins: *must start comping again!*0
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TBH legally they don't even have to provide anything and so technically you may never be able to sell to a buyer who requires the management pack!
Each case is different.
AFAIK the managing agent is typically appointed by the freeholder, or is a company owned by the freeholder itself (hello, overcharging…). Leaseholders tend not to have any direct contractual relationship with the managing agent, bust most leases would stipulate that the freeholder would somehow collaborate with leasehoders selling their lease, e.g. provide up to date statements, etc. There is, of course, very little recourse against unreasonable fees.
The leaseholders of a development in Vauxhall (London) won a case which made the headlines: http://www.dailymail.co.uk/property/article-2039128/MARKET-WATCH-Flat-owners-win-record-1m-payout.html0
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