The woes of selling a leasehold property ...

[daizydoo]

I am so frustrated I just have to vent my anger, so please feel free not to read this. Ill try not to make it too long.

We are currently selling our leasehold flat. Our leaseholders have told us they need to do approx 8,500 pounds worth of work on our property in the next year. We are currently paying towards this and I thought I made it clear to the estate agent that we were willing to pay half of the money and the people buying would have to pay half. Which I think is reasonable seen as we wont even be here to see the work done. The buyers are now saying they will not pay anything towards this bill - we have to fork out the whole lot. Is is me or is this a little unfair. Obviously this has an impact on how much capital we have left and we have to pull out of the house we are buying to find something cheaper. Grr it makes me cross thinking about this ,

[Foxey]

Hiya Daizy I really feel for you. The sell of my converted victorian flat was the same. i hated the management agency anyway but as soon as they new the 3 of the 4 flats were looking to sell, (1 divorcee and 2 new mums) - they slapped us with a 5k bill each and said there would probably be more. I ended having to take 3k off the price and they paid 2. We had been lucky and got full asking so I wasnt completely unhappy but to be honest it took so long to sell the flat (as really busy road, work required and pain in the backside mgmt comp) that I was just glad to be rid. If you sold relatively quickly maybe you should stand your ground and let them go if wont pay it. As at the end of the day they will benefit from the work not you.