buying, selling property UK

Guide to buying and selling property in United Kingdom

Buying and Selling Property » Frequently Asked Questions » What questions should I ask about the service charge when buying a flat?

Frequently Asked Question - What questions should I ask about the service charge when buying a flat?

You could ask the vendor about the level of service charges and if the sum appears very high for the services that the freeholder seems to provide, ask why. The possibilities are that the building in inefficiently managed which might indicates problems afterwards. In fact you should also request for copies of the service charge accounts over the last few years, to give you some hint of the consistency and level of charges. The salesperson should take out the service charge accounts over the past few years and have copies ready to give to you or your solicitor in response to the to be expected queries.

Make sure that you also ask the vendor and his landlord whether there are any planned maintenance or repair works. These are works which will cost over £1,000 and must be notified to the leaseholders before they can be carried out. It's best to ask this question before you buy so that you don't find yourself landed with a heavy bill for new windows and the entire disturbance that will unavoidably be caught up in the work shortly after you move in. The seller may also be capable of giving you some idea about how often the freeholder carries out major decorating work if not it's approved in the lease so you should be able to work out how often you will be faced with a bills for external redecorations and all the things that needs to be taken care of.

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