Leasehold flat - no management company?

FelinePrincess

I requested a copy of the lease from the ea as I thought it would be a good idea for the solicitor to have a look at it before putting in an offer, the ea says they dont have a copy and their not sure if the seller does either but they will see if they do. They already have 2 offers on this property now and with it being a cash sale it will probably happen quite fast.

Isn't putting in an offer on a leasehold flat with no management company without even seeing the lease a really risky thing to do? I want to put in an offer but I'm scared of getting in a sticky situation, any advice please?

Doozergirl

Putting in an offer isn't risky at all. It's exchanging contracts without doing your homework that's risky.

Seriously though, if people are having trouble getting mortgages on it, you're going to need more than just a copy of the lease. Have you knocked on any neighbouring doors?

FelinePrincess

Thanks Doozergirl, that makes alot more sense then what I was thinking! Havent been knocking on doors yet, hopefully I will be able to go tomorrow.

It's all so new to me and confusing, not to mention stressful!

fred7777

Putting in an offer doesn't expose you to any risk at all. As others have said exchanging contracts is where you take the big risk. Prior to that getting a mortgage sorted and a solicitor also costs money and you could loose this if there are lease problems which can't be sorted.

Putting in an offer now doesn't mean you can't pull out if problems occur. Any decent conveyancing solicitor will be able to advise you on what course of action to take when they get a copy of the lease. I sold our flat in February and had to pay £13 to the land registry for a copy of the lease for the upstairs flat because of questions from the buyers solicitor so the lease will be obtainable.