Selling a ground rents

buttermere

Hi can anyone help or advise me on where the best to sell a few ground rents that i own?

Myself and my husband, who is a builder, converted a house for the first time in to 3 flats, it was our first time and we are now looking for our next adventure. We have sold the flats and we are now stuck with the freehold and have no idea who buys these and we do not want to keep this as it is becoming a nightmare already!

Can anyone point me in the right dirction or give me some advice?

Fire_Fox

Welcome! If you are in England or Wales you should offer the freehold title to the leaseholders. It would have made sense to sell the flats as leasehold with a share in the freehold if you didn't want to retain it, this might have got you a better price.
http://www.lease-advice.org/publications/documents/document.asp?item=16

jthomas72

I have developed a number of properties of the years and after selling a number of ground rents in aution houses i stumbled across a company who purchases ground rents.

It worked out better for me as there was less fees and stress for me and the company are really good. look them up, there website is freehold-sale.co.uk

If you have not done already you will have to serve section 5 notices, but they can also help you with this. On your next project it will be better to sell the freehold first before the flats themselves as you will not have to serve notices.

buttermere

Fire fox thank you i wasn't aware that this could be done that way, think i may need to consider changing my solicitor by the sound of it as they didn't advise us much on this.

jthomas72 thank you also i will look at contacting this company as it sounds like you have had a good experience.

i was not aware that i have to serve notices i will speak to that company but also look the website fire fox, just had a quick look looks like i need to guide my solicitor here so he can give me the advice he should have.

thanks to you both

Fire_Fox

buttermere wrote: »

Fire fox thank you i wasn't aware that this could be done that way, think i may need to consider changing my solicitor by the sound of it as they didn't advise us much on this.

jthomas72 thank you also i will look at contacting this company as it sounds like you have had a good experience.

i was not aware that i have to serve notices i will speak to that company but also look the website fire fox, just had a quick look looks like i need to guide my solicitor here so he can give me the advice he should have.

thanks to you both

Choose a solicitor that specialises in leasehold and freehold matters including disputes.

buttermere

i thought i had but point noted, new solicitor time i feel