Administration → Properties
Buying and selling
Buying or selling one's home is often stressful so it makes sense to try and reduce the hassle by pre-planning as much possible – which includes providing your purchaser’s solicitor with a copy of this document.
1. Purchaser’s solicitors will almost certainly require copies of the last (or several) Financial Accounts, and details of the maintenance charges which are regularly distributed to all Members. You should have retained copies of all relevant financial information on file. Additional or replacement copies may be downloaded here.
2. Minutes of the AGMs which can be seen here give details on Reserve Funds, Annual Service Charges and anticipated future expenditure.
3. Confirmation of the payment of the OPEC Annual Service Charge is available on request to solicitors on a prompt and timely basis.
4. Sellers - Even when you have sold your OPEC property you will still remain liable for management charges until such time as the purchaser has signed an undertaking to be responsible for observing OPEC covenants.
It is in the seller's interest to ensure that their solicitors obtain this undertaking promptly and forward it to OPEC’s solicitor.
5. Purchasers should bear in mind that their ownership cannot be registered until a Land Registry Certificate is obtained from the OPEC solicitor. This will only be issued when a signed statutory undertaking to comply with the covenants has been received and there is no outstanding Annual Service Charge. The purchaser's solicitor should be instructed accordingly in order that no delay arises in registering Purchaser’s title.
It is in both parties interest to ensure the ‘covenants’ are signed and submitted to OPEC’s solicitor.
6. Ottershaw Park Woodland (OPW) share certificate. All members of OPEC are automatically shareholders in OPW. The management committee hold the originals of the 80 share certificates; duplicate copies can be issued to residents if requested. This can be an unnecessary expense as OPW was established so that only property owning members of OPEC can be shareholders in OPW. The share cannot be retained by the seller or passed to a third party. Share ownership remains with OPEC ownership/membership.
Ottershaw Park Mansion and Tulk House properties
The ownwers of all 80 properties in Ottershaw Park are members of OPEC. Of these 24 properties are in The Mansion and their owners are also members of Ottershaw Park Mansion Limited (OPM). A further 25 properties are in Tulk House and owners are members of Tulk Residents Management Company Limited (TRMC). Both these companies have separate management committees who look after common areas and facilities and also raise separate service charges.
Properties in The Mansion and Tulk House are leasehold with an interest in the companies that own the freehold of the buildings concerned. Purchaser’s solicitors should contact those companies separately to OPEC to resolve the necessary paperwork to secure change of ownership.
Purchasers’ solicitors should be clear that the remaining 31 properties are entirely freehold properties, with only covenanted obligations, NOT leasehold obligations to OPEC.
Submission of inappropriate forms, due to a lack of diligence or understanding by purchasers' solicitors of the nature of obligations to OPEC will result in unnecessary delay and additional charges.
All property transactions are dealt with by OPEC’s solicitor, Carol Gregorious of Hyland Fitzwater Solicitors, who will deal with all conveyancing queries from your solicitor.
All legal costs incurred by OPEC, for completion of the Deed of Covenant, Land Registry Certificate, Transfer of OPW share and Freehold Management Enquiries Form (if required) are payable by the seller. Costs are usually £600 plus VAT or more depending on the specifics of the sale.
Carol Gregorious works for OPEC and will not deal directly with OPEC members who should raise any issues with their OPEC Management Committee representative.
Contact details
Hyland Fitzwater Solicitors
44 Chertsey Road
Chobham,
Surrey
GU24 8PJ
Tel: 01276 488082
Fax: 01276 488190
cag@hylandfitzwater.co.uk
info@hylandfitzwater.co.uk