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Buying from factor / who still being the major owner of the property.

Hello. The property that I am interested in comprise of a second floor penthouse flat in a three storey listed building constructed around 1842 and converted to form offices at ground and first floor level with two penthouse flats at second floor level and parking at basement level in 2003, However the owners of building/offices act as factors. I was wondering should I be worried for any future calculation on contribution of repairs or maintenance of the roof, common stairwell or other common areas? As far they are the factors, how can I determine the factor fees for my property? Do you think this purchase will be an opportunity or it will be a nightmare dealing with owners/ factors.

Asked on Oct 17 2011, Selling in Glasgow | Report content

Answers (1)

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  • Have a look at the lease this will outline who is responsible for what and what contributions each owner occupier should make. Make sure you use a good solicitor to read this through.

    Answered on Oct 18 2011, Report content

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