Management Company, no AGM, no monies asked for.

[Marty 1972]

I bought my house in a development of 20 in 2008 just before the crash. Only 3 houses have sold in the the development. The developer had financial difficulties and went into receivership in the interim and the banks tried to sell the remaining units. For some reason this was abandoned and now the developer is back renting the properties out. There has never been an AGM or have I received any information about a management company even though I was told by my solicitor on the sale closure that there is an annual fee. No monies have ever been asked for or collected. My question is, we are thinking of selling our house next year and I’m concerned that the developer under the guise of a management company will seek twelve years of monies even the though common areas fell into ruin and were looked after by their own tenants. Would anyone know where I stand? Thanks in advance.

 

[mathepac]

Back to your own solicitor for the name of the OMC mentioned at purchase time, name of officers, copy constitution, copy of lease agreement, etc.

 

[Marty 1972]

Back to your own solicitor for the name of the OMC mentioned at purchase time, name of officers, copy constitution, copy of lease agreement, etc.

Thanks. I’m almost afraid to ask .

 

[Zenith63]

Thanks. I’m almost afraid to ask .

It's well worth digging into IMHO. Any potential buyer's solicitor will absolutely do it, so you're better to have as many answers as you can now rather than having a sale fall-through or the buyer try to renegotiate at the last minute...