Thinking of buying a flat?
Your estate agent must tell you anything significant that may affect your decision whether to buy a flat. There are...
Contributions to the reserve/sinking fund are generally not repayable when a flat is sold.
However, the terms of the lease must be checked to see whether the lease provides that any money in the fund should be refunded to a leaseholder who is selling their flat.
More information you might find useful:
- Service Charges and other issues
- Freehold vs leasehold conveyancing flowchart
- Service charge dispute resolution flowchart
- More Frequently Asked Questions on Purchase/Sale
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