Pressure from house sellers

[Roadtrippingroundgreece]

For context, I put an offer on a house bank holiday weekend August. I then found out that it had an estate management and rent charge attached and naturally wanted to review the pack before committing to searches (this definitely would have affected my offer).

The pack only came back last week and my solicitor hasn’t had a chance to review it yet. I am now being asked to complete by first week of December or the purchase will fall through. Apparently the sellers onward chain are developers and putting pressure on them.

Am I being slow/unreasonable or is this a bit unreasonable? I didn’t expect it to have turned around in three months to be honest!

Interestingly we are an estate of around 165 units (flats, detached, semi) and a mix of owner occupier, shared ownership, private rent. The shared ownership properties are managed internally by the registered provider but there are still external works covered by the management charge. We have green space, roads, parking, TPO trees, etc within the boundary so it’s a complicated set up. I don’t know why it works so well, but it does. I appreciate it isn’t for a lot of people though. Properties here do take longer to see than others but it doesn’t seem to put many people off. But then we are in a popular Sussex town with good schools etc so perhaps that helps the market

Well that shows that it can work really well then!

It may be a handful of terrible companies around the UK that have given this set up a really bad name for itself then. It’s a shame for those estates that have it working really well and haven’t had issues. Perhaps the terrible experiences like I have had are not the norm and we are scaring the OP unnecessarily.

The trouble is, you only need to buy on an estate where there are issues to regret buying! The good examples make little difference to you then. I think that’s why the OP needs to review the pack in full. I wouldn’t necessarily pull out purely based on the fact it is managed - but it’s material in deciding whether to move forward or not

Good point. Like I’ve said previously I would never buy anywhere with that kind of set up again, the agro, the stress, the not knowing what the next bill is going to be etc etc. all for maintenance I didn’t really benefit from.

But on the other hand with only 10 houses it could be alright.

You are right though they need to get the full details before even deciding if their offer still stands and after that they can start searches and surveys etc.

There should absolutely be more regulation over these companies and one of the things should be about these packs being free and provided in a timely manner.

OP, Something else occurred to me. I suggest you have conversations with the agent on email. I am garrulous - you might have noticed this - and tend to chat on the phone. I have been lied to SO many times by agents over the years, both when buying and selling, and I would have got closer to the truth on issues if they had had to put statements in writing.

If you're not desperate, OP, then just go at your own pace. Dont be held to ransom or bullied by the EA or Sellers.

Like you say, doing your due diligence is key. Especially with their attitude and apparent incompetence. And, if you call their bluff and they do pull out then you can still re offer (with a lower amount if you wanted) in spring.

But I have a feeling they are bluffing and wouldnt collapse it

Another one on a small estate with these charges and no issues here.
It’s becoming increasingly common as councils refuse to take on additional costs of shared areas when developers build an estate.

Ours is 60 properties. About 50 freehold houses and 10 leasehold flats. The estate is lovely with landscaping and a path by a river. We pay around £300 a year. Meetings are quarterly and open to all. Attended by several residents. Accounts are transparent. Has been working well for 22 years since the estate was built.
New residents get a visit to be told about the agreed paint colours. No satellite dishes. Apart from that they are no bother and everything looks good.
I wouldn’t let it put me off the right house.

OP, are you buying in SW London by any chance?