I am in the process of buying a property.
The current sellers assured me that the services charges were no more that £1.5k annually.
We are due to exchange but my solicitor has come back with an £8k annual service charge given the info from the new management co!!
The sellers management company changed this year and a new one took over in q4 2020 and applied what they say is an annual charge £2k to get some funds in to do the work. However this is labelled as a quarterly £2k payment in their management pack. They will not provide an indication of what next years charge will be or even a range of what I can expect.
In order for us to proceed we need a firm indication in writing £8k is simply daylight robbery for a 2 bed flat - what can we do as the management company is refusing to cooperate.
Do not buy it. Pull out if you have not exchanged. these people can be rip off merchants. . Speak to others in the block, what do they know?
Am I able to do that without having moved in. I could try to get contact details from the seller
you mean able to speak to others in the block ? yes. It is in your interest to do so I would go along to the place Ring all the bells and speak to people . It may be the previous management did not carry out much maintenance and the new management have to catch up, hence higher prices . The seller may have a vested interest in not telling you too much.
Yes very true but what a waste of everyone’s time not to be transparent.
Thanks for the advice Colin - I will look into it tomorrow
Your solicitor needs to ask their solicitor to ask them to get a written statement, (which they might have to pay for) of current and planned annual service charges.