Re: sons house buying problems
Re: sons house buying problems
He had arranged a fixed legal cost as the same company handled both his selling and buying.Re: sons house buying problems
Re: sons house buying problems
Re: sons house buying problems
If the contract states that there is a £500 yearly surcharge/service charge for maintaining the surrounding area (communal area) then your son needs to walk away from the sale because service charges are the biggest con going and it's been reported about numerous times in the media. Service charges are used as a commodity by the developer and are sold to investment companies. Because the service charge has to be paid every year, investors use that money to make them more money. The problem with this is that the investors being the owner of the service charge can increase the service charge. This causes huge problems for home owners because many cannot afford to pay service charges and if they do not, the person/company who owns the service charge can take the home owner to court and take their house of them.Re: sons house buying problems
Not really sure, but I beleive that the original developers will have set up a separate company for the maintenance work. It may well be the case that your son can request that he becomes a shareholder in that company and thus be eligible to see the accounts annually.Re: sons house buying problems
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