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Post by Crunchy Col on Jun 9, 2020 6:38:48 GMT
Expect the worst! then you're prepared.
I've had to do everything on my own - looking at flats in Edinburgh, then lugging my whole life up here in bags and cases over several train journeys once we sold my mam's house, and now getting it back down there into a new flat. This is on top of sorting out viewings and deciding on a property in Whitehaven as well as negotiating with estate agents, surveyors and solicitors. It's hard work!
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Post by sloopjohnc on Jun 9, 2020 14:26:39 GMT
Lord, you're as negative as my sister! I'm doing ALL the work for the admin and negotiations, and my sister chimes in yesterday with "well, they could do x and y". She's never been involved in a negotiation in her life. There are those in every family. My brother is a control freak, but one without patience. After my dad died, he wanted to handle the estate stuff. He lasted less than a week. He isn't used to dealing with bureacracy. He wants everything to happen "now."
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Post by sloopjohnc on Jun 9, 2020 14:28:28 GMT
Expect the worst! then you're prepared. I've had to do everything on my own - looking at flats in Edinburgh, then lugging my whole life up here in bags and cases over several train journeys once we sold my mam's house, and now getting it back down there into a new flat. This is on top of sorting out viewings and deciding on a property in Whitehaven as well as negotiating with estate agents, surveyors and solicitors. It's hard work! You haven't reached the point, or maybe you have, where you send an email or walk into a meeting thinking everything is done, and you find one or two documents that still need to get finished and prolongs the situation for a week or month. That's fun too.
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Post by Crunchy Col on Jun 9, 2020 14:45:50 GMT
Seriously - assume everybody else is a useless fucker, like I say. It's the only way to get on in life. Assume everybody's incompetent and then if they do anything helpful at all, it's a bonus. Just back from town - my first trip into Edinburgh centre since early March. It was very quiet. I was actually surprised how many places were closed. I called into the bank and made the transfer - it took quite a while, I had to sit down for 10 minutes. It's a big deal (for me, not them, of course). The girl serving me was a total sweetheart - really friendly, funny, helpful. Beautiful mild Edinburgh accent. That's how it should be, I think. If you're doing something BIG, you want someone nice to help you, to make it a pleasant experience. If they're arseholes it just adds to your stress. Anyway - that's done, and now I'm back to having next door to fuck-all in my account. Life, eh?
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Post by tory on Jun 9, 2020 15:09:29 GMT
You do have an asset and no rent to pay though I'm guessing?
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Post by Crunchy Col on Jun 9, 2020 15:13:57 GMT
Would you expect that?
The flat is leasehold and I had questions about the whole 'tenant/landlord' thing - but the rent is mentioned in the documentation as being 'one peppercorn'.
I'm planning to let the flat out some time, and apparently I need to get the landlord's permission and make some kind of special contract with the tenant. She said it was fairly standard stuff tho'.
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Post by tory on Jun 9, 2020 15:18:30 GMT
So you've got leasehold costs?
How many other people do you share the building with?
I guess you can do all the tenancy stuff through an agency - otherwise you will need a solicitor to draft a suitable contract.
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Post by Crunchy Col on Jun 9, 2020 15:22:39 GMT
Service charges of about a grand a year. I'm going to be part of some kind of cooperative along with the other residents, they're in the process of getting a new management company to do some work on the building, so that's another cost - around £15k. There are six or seven residents in total.
Yeah, I'll have to sort out a letting agency. I think that can wait until next year.
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Post by tory on Jun 9, 2020 15:34:26 GMT
Yeah I'd keep an eye on that. When we lived in a flat before we bought our current house, my wife had to deal with all the other residents (landlords) of the building and it was PAINFUL to say the least, particularly when work needed doing. Be careful.
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Post by sloopjohnc on Jun 9, 2020 15:42:56 GMT
This is one of my favorite Seinfeld bits where George Costanza tries to make his claim for his tenancy in front of a co-op board.
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Post by Half Machine Lipschitz on May 31, 2021 16:20:16 GMT
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