Buying a Flat

anon_private

bouicca21 wrote: »

And who do you think pays those?

The leaseholders of course

Alexland

Flats tend to sell to first time buyers and investors. Ok some people are downsizing or going through a divorce but why would I sell to someone with a chain when I don't have to?

I have bought and sold properties and learned to distrust initial information provided by buyers, sellers and estate agents (who are hopeless at qualifying buyers) - the need for a mortgage or existence of a chain 'emerges' weeks later. On that basis I wouldn't offer any discount that would take it below it's fair market price.

However it depends on the desirability of the property and sellers experience and circumstances.

Alex

bouicca21

Ok so you understand that the leaseholders pay. Do you understand that from time to time there may be major works that have to be funded outside of the regular service charge and the reserve (and of course a reserve may not exist). Ergo you do need to worry about the structural integrity of the building.