Flat owner selling 999year lease but not "SoF"

Badegg

AnotherJoe wrote: »

Maybe, who knows but why lock yourself out from those sort of gains, either directly if you stay there that long, or indirectly if you sell in a few years (and now there’s this confusing mix of freeholders for your prospective purchaser)

There’s also, more pragmatically and immediately the issue that arises if (when) maintenance is needed. This person may not be too worried about maintenance, will want to pay the cheapest amount for it, won’t be as incented as the other freeholders to get things fixed quickly, might be a pain to contact and respond, and you won’t have any imput over what gets done.

The more you consider it the worse it gets.

yes agreed all valid points. & also agreed - i dont plan on offering much more than existing price. tbh id have preferred maybe 5-10k less but its still a much better deal than what ive seen for same price.

Tom99 wrote: »

Does the lease/freehold share allow the sale of the lease without also selling the 25% freehold share?

Is the 999 yr lease to be sold the existing lease or a new one the seller is drawing up?

thats not something i know. i havent even viewed the property - was arranging viewing but then wanted to clarify this SoF point and had this little surprise. so if the EA gets back to me and says theyre not interested in selling then ill just sadly have to move on because paying 15-20k extra on it move sit out of the desirable sweet spot.

the 999 yr lease is an existing lease already drawn up (according to EA).

AnotherJoe

Perhaps their idea is simply to nudge the price up subtly, eg you agree to pay a price and after that then there’s another price on top for the freehold, a bit like a car advert says its £20k and you bargain the dealer down to £18k and feel good, but then it’s £3k for the sat nav, air con, etc etc options that you want

Badegg

AnotherJoe wrote: »

Perhaps their idea is simply to nudge the price up subtly, eg you agree to pay a price and after that then there’s another price on top for the freehold, a bit like a car advert says its £20k and you bargain the dealer down to £18k and feel good, but then it’s £3k for the sat nav, air con, etc etc options that you want

hopefully. im awaiting the reply of the EA. it would just be bizarre if they dont want to add it in (even if for a few k extra) and want to keep it long term.