Page 541 - (A) Mammoth (998pp)

, 22/4/11 10:34 +0100, 1
To:
From: Graffiti Editions Limited <studio@graffiti.biz>
Subject: Cc: Bcc:
Attachments: Dear All
I have spoken to Michele Hillgarth this morning who has asked me to set out in more detail our fee quote which my colleague Paul Neville sent to you on the 18th April 2011.
I can confirm that the breakdown is as follows:-
1. Registering you all as clients and serving the acceptance notice - £1,250 plus VAT. This is the notice whereby we need at least five out of the nine flats to give us authority to serve the notice on their behalf.
2. Dealing with the formation of the new company which will purchase the headleasehold interest ("the Company") - £1,500 plus VAT.
3. Preparing and completing a participation agreement - £1,500 plus VAT. This is the agreement by which you will all enter into with the Company whereby you all agree with the Company and each other that you will participate and pay your requisite share of the purchase price and costs when required by the nominee purchaser company.
4. Serving the nomination notice - £750 plus VAT. This is the notice which will inform the intermediate landlord of the name of the Company.
5. After the auction has taken place the intermediate landlord's solicitors will send us a contract, as indicated in Paul's email, and you then have 28 days to serve a further notice accepting its terms and to pay the deposit. We will then deal with arranging for the service charge information and accounts, if relevant, to be passed over to the Company, and for the proportions of the service charge and rent which you currently paying to be apportioned as at the completion date, we will then prepare to give each participating tenant a completion statement showing the sums which they are due to pay on completion. We will also negotiate the terms of the transfer which is the legal document which transfers the legal title of the property to the nominee purchaser company and arrange for that to be completed. Completion is when we will need to pay over the balance of the purchase monies i.e. the purchase price less the deposit already paid. We will then deal with the completion of that transfer and registration of it at the Land Registry. Our fees for this third stage will be £3,000 plus VAT. It is not possible to breakdown our fees for this stage further because we cannot do away with any part of this stage.
I reiterate the contents of Paul's email to you in that time is quite short and we need to serve an acceptance notice by the 8th May 2011. We do therefore require certified copies of each of your passports and a recent utility bill within the last three months again this should be certified. When I say certified I mean that it has to be certified by a solicitor who has confirmed that the passport copy is a true copy of the original and that they have
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