Buying a property - is share of freehold a bad idea?

MyUserNameWasTaken

Does anyone know about shares of freeholds? We're feeling bruised after being gazumped (yes seriously) yesterday on a property. There's another property we really like and considered putting an offer in on a while ago. What stopped us is that it is a 'half house'. So our bit would be a house but would share a communal entrance with two flats who would have the other half house. This would mean that we would have a shared freehold. For some reason this is ringing alarm bells for me. What if work needs to be done and the other freeholders dispute it or simply can't afford it? What if they are difficult and we don't get on.

Am I creating problems where they don't exist and can anyone tell me more about shares of freeholds and maybe reassure me. I love the house but something's holding me back.

McCoisty

Speak to your solicitor and get a clear indication from the title report on responsibilty for common repairs and maintenance of the grounds etc.

Have you met the new neighbours?? If not I'd suggest finding out about them before you go ahead and have a look at the general condition of the property.

One of the first questions I have always asked when viewing a property (with the current owner) is "why are you moving"?.. maybe worth asking and seeing their reaction.

Speak to your surveyor also and ask for comment on the condition of the communal parts, when the roof was last maintained, the gutters and downpipes cleared/maintained.. look at the general grounds.

Sounds no different to buying a flat really. Except you wont have a factor to deal with.

Get as much info so that you're comfortable with taking on a split freehold.

If you're still uneasy after getting all that and meeting the neighbours.. walk away from the deal.