Advice on flat sale

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  • Ionela Preda
    replied
    Ews1 form

    We are a building under 18 meters of hight, not timber.

    I did the survey to get the form, and we paid 2220 pounds on jt without getting it. They could not see the fire breaks that we did have in our building plans, from Belway.

    then, they stated that they need to make sure if what is in the plans, our constructor really put in our building.they asked another 6600 pounds for it.

    i successfully helped selling on flat in our building, convincing the mortgage lender that we do not need it. Indeed we did not, I only done this on people’s expenses in case we really needed it…

    the 2nd flat can t be sold because these new lenders do not necessarily give mortgage money without the form, even though we do not need it, as stated in the valuation of properties.

    what are your thoughts?

    Leave a comment:


  • Ionela Preda
    replied
    Gordon999,

    Well, even Mrs Ilori got confused at the beginning and had some questions herself for the freeholder.

    all done now! Thank you!

    Leave a comment:


  • Ionela Preda
    replied
    I would like to say a big thank you for every piece of advice that made all clear.

    I was advised to get in touch with Mrs Ilori and I did it.

    therefore the 1st flat under the new management ( mine), has been sold with success, thanks to you, guys!

    I spent all my 6 weeks of holiday working hard to make the RTM work, and now it does!

    I would have never, never done it without you!

    thank you hugely!

    Leave a comment:


  • Gordon999
    replied
    You need to consult a solicitor with working experience in transfer of leasehold flats. Does the restriction require the prospective buyer to apply for membership of the Residents Management Company and pay a fee before the Land Registry can transfer the flat to the buyer ?

    What is the restriction clause in your lease ?

    Can you post the wording of the restriction clause up in this thread.?

    You can get free advice from a legal advisor at LEASE ( www.lease-advice.org ) or from sellers's solicitor.

    Leave a comment:


  • Ionela Preda
    replied
    Gordon999,

    I had a 40 minutes conversation with a solicitor and I preciously sent him the lease.

    He said that he saw that the restriction is in the favour of the freeholder, and that now I need to find someone more experienced than him to look into this, as I need to look into the Land Registry Guidance for this and to update this.

    i am shocked that they do not know how to deal with this, as solicitors…

    Leave a comment:


  • Ionela Preda
    replied
    ram,


    All fine now with the LPE 1 form. I know how to fill it in, I have it.

    The certificat of compliance is the only one I do not know how to do…

    Leave a comment:


  • Gordon999
    replied
    Alternatively, you could book a 20/30 min consultation with a local solicitor ( experienced in residential long leases ) to explain the requirements under your lease and charge the expense for legal advice to your service charge account.

    You would have to take 2 copies of your lease to the meeting. Sometimes a meeting with local solicitor may help to explain the lease terms much more quickly.

    Leave a comment:


  • Gordon999
    replied
    I am not a solicitor and do not have drafts for 1, 2 and 3.

    I suggest you speak to the leaseholder 's conveyancing solicitor for advice if these items 1, 2 & 3 are necessary and functions required by the RTM under the terms of your lease.

    Leave a comment:


  • Ionela Preda
    replied
    Gordon999,

    Hi,

    this is what I thought about restrictions…

    so, the Freeholder only asked me tell him at the end who the new owner is.

    he does not want to take part in the company.

    how difficult would be for me to provide:

    1. Deed of covenant
    2. Certificat of compliance
    3. licence to assign?

    Do you have any drafts of these?

    Leave a comment:


  • Gordon999
    replied
    After the RTM has taken over administration of the service charge account , the freeholder is left with collecting the ground rent and forfeiture of lease. Usually the solicitor for the prospective buyer will be asking if any service charge owing by the seller and any expensive maintenance work planned and provide copies of last 3 years service charge accounts; and you can charge a fee before replying .

    What are the restrictions for ? Lifting and reapplying does not sound right for a RTM company.?

    Leave a comment:


  • MrSoffit
    replied
    Hi. As a director of an RTMC with a managing agent in toe we can leave the sales pack work to our managing agent, but there is one point that doesn't make sense to me here. Unless the lease requires the seller to get prior consent to assign -- as apart from the more standard requirement for the buyer to submit a notice of assignment within 30 days of the purchase -- I don't understand why you needed the freeholder's 'consent' to deal with LPE1 enquiries?

    An RTMC is an independent legal entity - not an agent of the freeholder. The freeholder and his agent won't get involved with sales enquiries unless they are collecting their own ground rent - not automatically a duty put on an RTMC.

    Given the RTMC can charge a fee for dealing with sales pack enquiries, makes sense to delegate outside. Loads of advice available on line but important to get it right.

    re Post #9 the freeholder cannot tell the RTMC to 'add the buyer in' as membership of the RTMJC is voluntary for the flat owner and they have to sign and submit the guarantor statement and the freeholder has no legal role in any of this. I'd suggest you keep the freeholder out of the RTMC's work other than - should they apply - making them a voting a member as landlord.

    Leave a comment:


  • Ionela Preda
    replied
    ram,

    The free holder only asked me to pass the info about the new buyer, so they know at the end.
    and of course, to add him into the RTM, too.,

    Leave a comment:


  • Ionela Preda
    replied
    Originally posted by Section20z View Post
    Ionela Preda,

    Have pm'd you a good firm.
    thank you! I read the post and I can’t wait to be Monday, so I can ring them…

    Leave a comment:


  • Ionela Preda
    replied
    ram,


    Yes, Homeground is now representing the Free Holder and gave me the authorisation to carry this.
    they normally do all these themselves, but only for a Management Company, not for our RTM one…

    They declined any help, even paid one.

    the LPE 1 form, we have it from the previous flats that were bought in the past, including mine. I filled it in.
    we know how much we have as a reserve fund, all is clean here, too.
    Fire Assessment, done. Asbestos aspect-none. Block built in 2012.


    All clean here. No debts on the ground rent or service charge.

    We struggle with that “restriction” that has to be lifted by us? And then re-added.if not, I started to get a bit more.

    but not totally…

    Leave a comment:


  • Ionela Preda
    replied
    Guys, I can’t believe that you take your time to help! Nice people still exist!

    Leave a comment:

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