Open retention and unknown costs on Repo – Should I complete today?Make Text Bigger
We are buying a repossessed freehold property with shared common areas, car park spaces and gardens.
The management company have asked for a retention of the purchase price, but they would not specify how much or what for, they also served notice of major works on the complex which contains leasehold flats and freehold houses, but they would not tell us what our share of the cost would be.
The sellers solicitors are pressing really hard to exchange today and complete in 7 days and my solicitor would not ask them to postpone the exchange of contracts because he already asked that over Christmas when he was shut 23rd Dec to the 3rd Jan.
I am in very difficult situation of what to do, if I sign up, it means that I would be liable to any cost afterword or if don’t sign up, they might withdraw the contract and may go with some one else, and that means I lose the survey fees £600 and my solicitors fees, around £1000 and the property which I think
Would make a good HMO investment.
Any opinion or advise would be greatly appreciated.
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