buying the freehold

Skiduck

I'd just thought I would test the waters with this to gather some thoughts from other members that may have done this or know a bit about it.
We are condisering buying the freehold on our flats, this would mean we would actually collectively own a 2 bedroom flat (currently occupied by a caretaker). My thought is to possibly sell this to cover the cost of the freehold. The flat is worth 130K but we are unsure of the freehold price as it is early days. There are 44 flats in 2 estates.
So firstly, is there a common approximate price for a freehold or even a maximum?
Would the freeholders be able to sell the flat that comes with the freehold without any major concerns legally?

Thoughts appreciated, Ski

cattie

You need to contact these people for proper advice https://www.lease-advice.org
It's a government funded agency offering advice regarding most issues concerning residential leaseholds & the acquiring of the freehold. With the undertaking of such a large freehold covering 2 estates it isn't going to be as straightforward as leaseholders in a converted house or a small block getting together to buy the freehold.

You would need to set up a management company to manage the freehold & elect people to the management board from amongst the leaseholders.

Have a look on the website for more info & give them a call if you can't find the info you are looking for.

Skiduck

cattie wrote:

You need to contact these people for proper advice https://www.lease-advice.org
It's a government funded agency offering advice regarding most issues concerning residential leaseholds & the acquiring of the freehold. With the undertaking of such a large freehold covering 2 estates it isn't going to be as straightforward as leaseholders in a converted house or a small block getting together to buy the freehold.

You would need to set up a management company to manage the freehold & elect people to the management board from amongst the leaseholders.

Have a look on the website for more info & give them a call if you can't find the info you are looking for.

yep - would were definately considering our own management company or even employing a management company as it couldn't be left, but thanks for the info - I'll give them a ring.