agencydude
Registered User
- Messages
- 67
Hi
I was thinking of buying a residential investment property. However when my solicitor got the contract documents etc, it was discovered that the management company that services the estate, no longer operates. I'm not too happy about this as no one effectively pays for street lighting, there is no public liability insurance for the walkways etc that are part of the estate. On signing the title deeds I am expected to signup to being a member of this management company.
Has anyone come across the same situation before and if so what did you do?
Did you forget about buying the property?
From the point of view that its an investment property of which I intend to sell in the future, I anticipate I will have problems trying to sell it so maybe its not a good idea buying it.
I was thinking of buying a residential investment property. However when my solicitor got the contract documents etc, it was discovered that the management company that services the estate, no longer operates. I'm not too happy about this as no one effectively pays for street lighting, there is no public liability insurance for the walkways etc that are part of the estate. On signing the title deeds I am expected to signup to being a member of this management company.
Has anyone come across the same situation before and if so what did you do?
Did you forget about buying the property?
From the point of view that its an investment property of which I intend to sell in the future, I anticipate I will have problems trying to sell it so maybe its not a good idea buying it.