Thought I’d post on here because I have a few concerns with a leasehold flat im buying. Got all the reports and just need to sign the contract.

1. Reserve fund worry - There was a subsidence in 2013 which cost £34K to repair. This money came from a healthy reserve fund and now it’s as low as £8K.
2. Reserve fund - this is now around £8K ring fenced for repairs and since it got to this level, they actioned a section 20 notice to repair paving last year, asking people on the lease to cough up £1.2K each.
3. Previous owner is in arrears of around £1.2K, which suggests to me he refused to pay.
4. There’s two flats out of 7 up for sale around the same time.

Reserve fund summary - Because of how low the reserve fund is, this has concerned me considerably. They may action more section 20 notices in future given they can only save £500 per year from service charges towards the reserve fund.

What do you think? Am I worrying a bit much?