Leasehold interest

Ms_Sophia

Hello everybody.
We put an offer for a flat, which is share of freehold and leasehold. Then we've been going back and forth with offers on it, increasing them etc. Finally we've got our last offer accepted and we've received a letter from EA saying "...we confirm the acceptance of your offer by our clients... for the Leasehold interest in the above property for the sum of XXX..."

My question is - judging by the letter it seems that we are only buying the Leasehold interest in that property... which is a bit strange for us... especially taking into account that the flat is Share of Freehold too.

What do you think guys?

G_M

Probobly just ignorant estate agent. they probobly have 2 standard letters one for freeholds and one for leaseholds and can't cope with your situation! If, that is, they understand it.

Speak to the agent or direct to the vendor if the relationship is friendly, and confirm.

Or wait for your solicitor to confirm, though you'd have to instruct them for this and might prefer to make sure beofre running up legal costs.

Richard_Webster

Probably just a standard letter. Normally with share of freehold the freehold gets transferred for a nominal £1.

However you do need to check that the seller can transfer the freehold.

If it is jointly owned by up to 4 individuals then are they all still around and prepared to sign the transfer? If the freehold is owned in this way (as opposed to by a company in turn owned by the flat lessees) then all have to sign so the seller can't transfer the freehold if one won't sign or can't be contacted (perhaps because his leasehold flat has been repossessed).