| Subject: Re: ADMINISTRATION CHARGE RIP OFF! |
Author:
roger
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Date Posted: 03:30:12 11/16/04 Tue
In reply to:
vince
's message, "ADMINISTRATION CHARGE RIP OFF!" on 04:13:49 09/24/04 Fri
>Hi,i would like to know if anybody else has had any
>ridiculous quotes for changing ownership.I am about to
>give my 2 weeks to a friend,i asked for change of
>ownership form,i have just received it and am being
>asked for £325.00 PER WEEK to cover admin costs,this
>cannot be right.Is there any way of getting out of
>giving fat cat petchey any more money.Any help would
>be appreciated.
I am also aware of the quote of £325. It used to be less- about £100 per week, but this is another attempt by Petchey to keep owners tied to their apartments, and allow Petchey to sell to "new" owners, without the existing owners getting a look in.
The £325 transfer fee makes selling pretty much un-viable unless you have a 2 bed apartment or more!
I cannot offer much advise on getting round this, as without Petchey sending out new ownership certificate , you will still be chased for maintenance fees, as you will still be liable in their eyes.
You could ignore the ownership certificate from Petchey, and create your own - between you and your friend, and just send Petchey a change of address (as if you've just moved) for correspondence. If you also changed the name, the £325 fee might be charged - be careful here! Not exactly perfect, and does leave you open to problems possibly down the line. Ive not tried this, and not sure how successful an approach it could be, especially for the new owner (as you would still have rights over the partment, in the eyes of Petchey), but you need to find a way around the £325 fee in order to get a viable sale !
For your peace of mind, it might be worth you splitting the cost of this £325 per week between you and your friend, if you do decide to pay it. (Again, not recommended to pay Petchey anything!)
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