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How much do I charge for filling in buyer's leasehold questionnaire?

(8 Posts)
pearlkent Mon 12-Feb-18 20:22:30

I live in a flat in a block of 4 (converted Victorian house), in which each flat as an equal share of the freehold. It's set up as a limited company, and I am the company secretary.
One of the owners is selling up and I have just received their buyer's questionnaire, which seems quite daunting.
It says I am allowed to charge a fee - how much is reasonable?
It'll take me a few hours to fill in as I'll have to go through the lease, communal costs etc.

GU24Mum Mon 12-Feb-18 21:32:13

£150 ish? Is it the LPE1 you've been sent? Just so that you know (you may already), it will be the seller who will pay as it's part of the sale costs.

KitKat1985 Mon 12-Feb-18 21:37:12

I'd say about £100-200, depending how long you think it will take.

Dadsussex Mon 12-Feb-18 22:39:39

I sold a ‘cheap’ BTL flat a year ago and managing agent charged £280 plus vat for responses

4 pages and first page was a fluffy letter saying here are the answers

Nearly all of the answers were yes/no responses and the bit re service charges they literally photocopied the last 5 year accounts and said “see attached and you decide from there”

So actually 4 pages plus about 25 pages of photocopying

Never again will I buy a flat!!! That honestly felt like daylight robbery

BigcatLittlecat Mon 12-Feb-18 22:43:18

We've just paid £180 for an LPE1 as we are selling! What really annoyed me is that we own the shared leasehold of the flats so are part of the management company and we still got stung!

OneEpisode Mon 12-Feb-18 22:43:21

Um... if you charge in your capacity as company secretary, does that money belong to you, or to the little company? So reducing the running costs for you and the other three flat owners? Anyone know?

Needmoresleep Tue 13-Feb-18 12:41:44

I am paying one of my neighbours in a Right to Manage block £250. It's not just the initial material, which is significant, but dealing with queries from the purchasers solicitor. The latter seems to think her job is to discover new and usual questions to ask, setting us all on a bit of a treasure hunt.

My neighbour is handling everything promptly, efficiently and patiently, so I don't begrudge her a penny. I am very mindful of the fact that she has probably given up a good chunk of a couple of weekends. But the it is an investment property and I am only too aware how much everyone else in the process is charging. Most of whom are less efficient.

pearlkent Thu 15-Feb-18 13:54:04

Thanks everyone - yes it is the LPE1 form.
I'm thinking about charging £100, and, in answer to OneEpisode yes, I do think the money should go to me as Co.Secretary, as I am the one giving up several hours of my time to fill it in! I really don't see why the other 3 flats (including the one selling) should get £25 each for work I have done.
It's involving quite a bit of research, digging out old documents, calculations and photocopying, so it's not 'daylight robbery'.

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