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Management Fees & LPT for a purchased property

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  • 24-07-2015 9:55am
    #1
    GalwayBmw
    Registered Users Posts: 91 ✭✭


    Is it strictly compulsory for the buyer to reimburse the previous owner for MF & LPT or it's up to the buyer/ matter of the initial agreement? We paid a fair bit of premium on top the asking so we would have thought we pay what we had agreed on and that's it. wonder what kind of experiences people had?


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    #2
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    I don't think it's compulsory to reimburse the seller but it does seem to be accepted as standard practice.
    Worth asking your solicitor if it's complusory or can you come to an arrangement with the seller.

    We moved in April & did reimburse the seller for the "unused" portion of the LPT & Management Fee for this year. Our buyers did the same for us.


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    #3
    Arbiter of Good Taste
    Registered Users Posts: 2,200 ✭✭✭Arbiter of Good Taste


    GalwayBmw wrote: »
    Is it strictly compulsory for the buyer to reimburse the previous owner for MF & LPT or it's up to the buyer/ matter of the initial agreement? We paid a fair bit of premium on top the asking so we would have thought we pay what we had agreed on and that's it. wonder what kind of experiences people had?

    Not sure if compulsory, but is standard practice.

    Not sure what you mean by "premium". Unless you decided to pay over the odds out of the goodness of your heart, then you just paid what the market dictates.


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