MOVING HOUSE IN MORE DETAIL

IN MORE DETAIL

Some of the information that is required by any solicitor dealing with the process of purchasing a property is held on this website, and specifically on this page. Copies of maps, recent accounts and budgets are all downloadable from this site, along with the minutes of recent AGMs. Hopefully, the site will provide enough evidence of our existence and that the company is well run and administered within its remit. However, if any further information is required, this can be obtained by contacting our accountant Rafal Szymanski at rafal@firmindex.co.uk

Here are the most common questions that solicitors ask of us, as they represent a new purchaser of property on the development.

Q    How is the amount of the annual service charge arrived at?

A    It is decided democratically at the AGM on a one vote per household basis on the evidence of a budget presented to the meeting prepared by the committee.

When is the annual service charge levied?

A   The ASC is levied in June for the calendar year. Residents therefore pay mid-term of this accounting period. This charge will have to be apportioned between the outgoing and incoming parties depending on the date of the sale of the property.

Q    Are there any outstanding company debts that any new shareholder might be liable for?

A    Available on this site are recent annual budgets statements along with the latest set of accounts, which clearly answer this question.

Q    Is the annual service charge on the property concerned paid and up to date?

A    Richard Millard will be able to answer this question with regard to a specific property as it is he who keeps a ledger of service charge payments received. On the whole, we ask for the annual charge in May and get 80% of these in before we issue a reminder which usually results in a clean sweep, apart from houses which are in the process of a change of ownership or probate.

Q    Are there are any company regulations?

A    Only a deed of covenant and the requirements regarding notification of new owners.

Q    It is noted that the 1981 Deed refers to a share certificate whereas the company incorporation documents state the company is limited by a guarantee. Please clarify?

A    Share certificates are no longer issued, as the company is one limited by guarantee. Richard Millard records details of new purchasers (and therefore members) in the company register of shareholders.

Q    What charge is made for administration work necessary when dealing with a change of ownership?

A    A modest charge is levied by our accountant Richard Millard for supplying information and registering a new owner as a member of the company.

Q    By reference to a plan please confirm the location of the communal parking/garden area.

A    A map is available for download from this site which clearly shows the communal (or visitors parking) and garden areas owned and maintained by the company.

Q    What are the post completion requirements?

A    New owners with completed deed of covenant send advice to our accountant Rafal Szymanski at rafal@firmindex.co.uk