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maintenance charges when selling a flat - who pays what?

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  • maintenance charges when selling a flat - who pays what?


    Excuse me if my question sounds slightly naive... but i have never sold a flat before and my wife who owns the flat has never sold a flat before and is slightly nonchalant when it comes to the maintenance of the block she lives in.

    She is selling the property as we are buying a larger house, and on top of all the usual costs associated with selling, she figured there would be any outstanding maintenance costs (we pay £90pm) for the time we own the property.

    However a chat with a neighbor whom owns a flat at the end of the block has started freaking her out..... Basically he said that at the end of the block there is water ingress into the flats and as a result some work needs to be done - he stated that its going to cost all the owners (there are 10 flats) £5000 each.

    Only thing holding this work up currently is the freeholder not responding to the property maintenance company (the freeholder also has a shop on the ground floor).....

    How will this effect us when selling?

    Also.... On a side note is 87 years considered a reasonable amount of lease?

    Thanks in advance....... Richard.