HELP HELP - Freeholder issues when buying a flat

LoopyLuna_2

I cant do that because I believe there are disclaimers everywhere even on the site were the advertise about the garden. Does this type of discrepancy happen often ?

Richard_Webster

The trouble is, as you may have realised, from the details involved here, that leases are quite technical and there are all sorts of variations in obligations of freeholders/management companies etc.

OP was not to know that in asking the estate agents about pets, but quite honestly they shouldn't have answered her - why should they even know(?) - they should have said that they didn't know but the solicitor could look at the lease which would be in the HIP to see if there were any prohibitions of that kind.

It is regrettably very common for the seller not to know/understand the legal set up, let alone the estate agents.

Has OP spoken to any of the other flat owners to see what their experience has been about maintenance and insurance of the building?

we were told that the massive back garden was communal, the management company are saying its not.

OP goes on to say the management company has been dissolved so how can it say anything? Is this something that has been said by those who used to run the management company? By management company does OP mean managing agent or a company mentioned in the lease itself as having some responsibilities? Sorry, it is complicated. It is difficult to give advice because the concepts can get muddled so easily.

When people phone up for estimates for the purchase of a flat I ask if they know who the freeholder is or who the managing agents are. Usually they don't. I have to warn them that it is only when we see all the legal paperwork that we can decide whether there are any problems or not, and the buyer will have to risk the legal costs involved in me finding out so I can advise them.

Somebody phoned the other day wanting to buy a flat with a 74 year lease that would need extending soon. I asked if they knew who the freeholder was. Unusually they had taken the trouble to find out and they gave me a name, that in my view was a freeholder from hell, and I warned them that this company would want an arm and three legs when it came to a lease extension, and probably lots of nasty admin fees for nothing very much in the meantime.

That was unusual - normally because it is so technical, clients end up having to pay somebody like me to investigate for them.

pastmybest

I can only comment on the pets issue.

When we put our leasehold flat on the market (we own a share of the freehold) every other viewer had a cat so we asked our solicitor what we could do. He advised us to get in writing, from the management company the permission for a cat to be kep in the flat by us or any new owner/s. The management co has three directors including me and all agreed (put in writing by each of us) it would be OK and the necessary permission was issued.

LoopyLuna_2

Update :I have spoken to the man whos trying to buy the freehold(hes a property developer), he has already bought 2 of the flats, and if he gets it he said he will give permission for all animals and get the clause removed from the lease.But in a way I can pick and chose =] wait untill the freehold issue has been sorted out then decide whether to continue .Will defiantly get it in writing from him once its been confirmed he has my lawyers details and I have his ext.

Waiting wont be a issue as people aren t exactly jumping at a place that needs complete refurbishment.

Now they are just waiting for me, and waiting cant do me any harm. I have already paid for my end, and if I lose it , well honestly then maybe it wasnt meant to be.

Do you think that because the garden is private I can say to the EA, I have reviewed my offer and offer slightly lower ? or is that just going to make everything 10 times worse.(honest answers needed)


I have spoken to the manager of the EA and he couldnt be more apologetic, which was a nice surprise, told him about garden ext and he said this is what they were told by the repossession company and understood about me waiting. He seemed happy enough with that, I actually think its because he thought they had lost a sale the misinformation. Its true what they say, knowledge is power thank you everyone for the help so far. Its nice to know im not locked into anything

Kaleidoscope1972

I think from the point of the view of the garden, if the flat was advertised as having the use of a communal garden, and in fact that is not the case..I would be revising my offer on that score

LoopyLuna_2

Thankyou ^^ I may review it , but i would have no idea how much to lower the price by, it was quite a large garden. Any ideas ?

Ulfar

If you have a property developer buying the freehold I would be running away fast.

I know this isn't your original concern but this developer isn't buying the freehold to loose money.

LoopyLuna_2

Im going to sound very naive here but as a 1st tim buyer I feel the need to ask why would in be a bad thing ? I mean i understand he's doing it to increase the value of the property he has, but as the house is not well looked after I thought this would be a good thing. I believe he just wants to do the flats up and sell on quite quickly ...

Ulfar

Hes buying the freehold not the lease holds, unless I am mistaken.

This means he will be in control of setting the maintenance charge and the works to be done.

You will all end up paying towards this.

LoopyLuna_2

ah well one flat he has bought is a leasehold, the other im not sure on the other one, but he wants now to purchase the freehold separately . I think though thats a good point I need to check what the service charge would be before deciding. I have suggested everyone having a share in the freehold... but honestly its so complex it makes me head spin.