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Drominbeg, Rhebogue, Limerick

  • 03-02-2015 3:17pm
    #1
    ZigZag1234
    Registered Users Posts: 5 ✭


    Hi All,

    My partner and I are looking at buying a property in the above area. However, we have heard that there are issues with the management company and the matter is being taken to court. Apparently some of the residents paid and some didn't.

    Can anyone tell me if we will then have to get involved with the court case if we buy a property there? If the owner of the property is actually entitled to sell it given it's involved with a legal case and if there are any other issues we should be looking out for?

    Thanks in advance.


Comments

  • #2
    Caithlin Drew
    Registered Users Posts: 3 ✭Caithlin Drew


    Hi ZigZag

    Sorry i know nothing about the property but I do know the law in this area - the management company will have to complete a "set of requisitions" answer questions about the property before your solicitor will let you sign contracts. If management fees are not paid the management company will not complete the required requisitions.

    If that is the case the seller/vendor will have to pay the management fees or the seller's/vendor's solicitor will give an undertaking to the management company that they will pay the management fees out of the proceeds of the sale - and the management company will then complete the necessary requisitions.

    You solicitor will advise you on all this. If there are problems with the management company and the management accounts - a property can be unsell-able to anyone applying for a mortgage (unless a cash buyer agrees to receiving a substantial discount on the asking price.)

    C


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