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Buying a leasehold garage

mark707
mark707 Posts: 1 Newbie
edited 24 April 2009 at 8:28PM in House buying, renting & selling
Hi

I am looking at buying a garage for my pride and joy which is presently parked on the road, a friend of mine owns a flat with a garage en-block and has offered to sell the garage to me for £5K, he needs the cash so it could work well for both of us.

However his flat is leasehold and I wonder if anyone knows how the sale would work, is it possible to convert the garage to freehold?? I will be seeking legal advice but just wondered if anyone has any suggestions or cautions!

Thanks
Mark

Comments

  • silvercar
    silvercar Posts: 50,034 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    If he owns a leasehold flat that contains the garage on the lease, he doesn't own the freehold to the garage. At best he will be able to split his lease into two parts, one for the flat and one for the garage. This will require the consent of the freeholder. It may well be a condition of the freehold that the garages can only be owned by flat owners.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • cattie
    cattie Posts: 8,844 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Also, he should be aware that he will reduce the value/desireability of his flat should he sell the garage & want to sell up in the future.

    If he isn't using the garage, can't you come to some arrangement to rent it from him?
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
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