Freeholder not providing LPE1 Form for sale?
Hi Everyone, A friend of mine has a flat which has an agreed buyer and they were planning to exchange and complete in January next year.
However, the freeholder hasn’t (won’t?) provided the LPE1 form, without which they can’t exchange.
Does anyone have any suggestions as to what our friend can do please (he needs the money to pay for his mother’s carers so he’s very anxious not to lose the buyer)?
The LPE1 form is for collecting information held by landlords and managing agents for example, about ground rent, insurance and service charges.
LPE1 form Leasehold Advisory service >> https://www.lease-advice.org/files/2022/01/LPE1-form.pdf
Many thanks
Heather
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Member Since January 2015 - Comments: 1446 - Articles: 1
11:06 AM, 18th December 2023, About 2 years ago
Get your friend to download the form, complete it and send to the freeholder or managing agent to sign and return. There is no legal obligation for the freeholder or managing agent to complete it.
All information questions were detailed in property information and leasehold enquiries forms already in existence so why another form was ever needed to be drafted who knows. Especially one with no legal obligation to complete.
Useful reading
https://www.starckuberoi.co.uk/lpe1-form/#:~:text=What%20can%20I%20do%20if,much%20that%20can%20be%20done.
https://forums.moneysavingexpert.com/discussion/6300550/seller-refusing-to-sign-lpe1-form
Member Since December 2019 - Comments: 241
5:10 PM, 18th December 2023, About 2 years ago
The LpE1 is important for the buyer as the freeholder should be detailing any upcoming large expenses in the near future.
This allows the buyer to renegotiate with the seller if upcoming works are identified
Recently bought a flat which the LPE1 listed over £5k of upcoming works, glad I knew before the sale
Member Since March 2016 - Comments: 163 - Articles: 1
7:09 PM, 22nd December 2023, About 2 years ago
Reply to the comment left by Judith Wordsworth at 18/12/2023 – 11:06
Thank you.
Member Since March 2016 - Comments: 163 - Articles: 1
7:09 PM, 22nd December 2023, About 2 years ago
Reply to the comment left by Chris Bradley at 18/12/2023 – 17:10
Thank you.