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  • FIRST POST
    • JEE12
    • By JEE12 10th Oct 16, 8:37 PM
    • 1Posts
    • 0Thanks
    JEE12
    Buying freehold of a 2 flat property
    • #1
    • 10th Oct 16, 8:37 PM
    Buying freehold of a 2 flat property 10th Oct 16 at 8:37 PM
    I'm feeling a bit stuck!

    I was considering making an offer on a flat in a victorian conversion (made up of 2 flats in total) with a good lease of over 800 years remaining. However, I looked up the freeholders and found nothing but nightmare reviews with a resounding "avoid at all costs"!

    Realistically, I think I have to let it go, but then I'm wondering what the deal is with buying the freehold and is it possible to do this solely when there are only 2 flats in the building (as this would make up 50% requirement for collective enfranchisement, but then it's not exactly 'collective'!!). Or am I being completely naive about this as a possibility??

    I'm a first time buyer, so any advice on this would be highly appreciated.
Page 1
    • MrJDE
    • By MrJDE 21st Oct 16, 2:17 PM
    • 3 Posts
    • 0 Thanks
    MrJDE
    • #2
    • 21st Oct 16, 2:17 PM
    • #2
    • 21st Oct 16, 2:17 PM
    Well at least you will not have to deal with Pier Management they hold the freehold on our property and they own the upstairs flat we are desperate to extend the freehold and would like to purchase it but cannot while they own 50%
    • Hoploz
    • By Hoploz 21st Oct 16, 5:28 PM
    • 3,061 Posts
    • 2,708 Thanks
    Hoploz
    • #3
    • 21st Oct 16, 5:28 PM
    • #3
    • 21st Oct 16, 5:28 PM
    How does the building look? Is it in good repair?

    You could ask to see some previous bills for ground rent and service charges before you make an offer, that's quite a reasonable request.

    What are these complaints actually about?

    Is the freeholder managing the properties or just the freeholder with a separate management company dealing with day to day business.

    If its such a long lease you're unlikely to have much to do with the freeholder unless you plan to make structural changes (in which case you should ask permission but often people don't anyway.)

    If they manage it as well then you will of course have to deal with them more.
    • Boler1985
    • By Boler1985 21st Oct 16, 6:12 PM
    • 83 Posts
    • 41 Thanks
    Boler1985
    • #4
    • 21st Oct 16, 6:12 PM
    • #4
    • 21st Oct 16, 6:12 PM
    Well if you do want to make an offer demand a full copy of the lease from the EA. Read all of it and take special attention to the ground rent and service charges and other charges and how they can be increased.

    You have my permission to *#^%! the EA in the face if they won't give it to you
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