Freehold on completion - solicitor processing as a leasehold?

eddddy

jamieRH20 wrote: »

Ok thanks for the replies... so just to clarify... should my solicitor be processing the sale as a leasehold property or freehold ?

You're kind of asking the wrong question.

Tell your solicitor what you want, and ask them for a quote for the fee, for doing everything you need.

... and probably ask a number of solicitors for quotes.


This is a non-standard purchase. I wouldn't use an 'online conveyancer', or 'conveyancing warehouse' for this (i.e. probably not the type of conveyancer that an EA would recommend).

I would use a property specialist, who is experienced in conveyancing and lease determination etc.

eddddy

AdrianC wrote: »

Except that the vendor of the leasehold house has exchanged contracts, so is legally liable for any failure to complete.

He cannot be held responsible for any failure of the freehold vendor - somebody else entirely - to complete... So if the leasehold house can complete, but the freehold can't...? What then?

Again, you have the same options as when you are selling/buying in a linked transaction - and one of the parties (your buyer or your seller) is unable to complete.


e.g. Freeholder refuses to complete on sale, so you refuse to complete on leasehold purchase.

Leasehold seller sues you; you sue freeholder.

Or you could complete on the leasehold and sue the freeholder for damages, etc

davidmcn

jamieRH20 wrote: »

Ok thanks for the replies... so just to clarify... should my solicitor be processing the sale as a leasehold property or freehold ?

It's neither a normal leasehold purchase nor a normal freehold purchase. They need to transfer both interests. There ought to be some saving in that they don't need to do full due diligence of the lease (as the contents of it and any ongoing breaches etc are irrelevant). But I wouldn't expect the fee to be significantly less than a normal leasehold transaction.

AdrianC wrote: »

So if the leasehold house can complete, but the freehold can't...? What then?

Presumably either the solicitors undertake only to exchange all the contracts simultaneously, or they make the purchase of the freehold a conditional contract and purify the condition when the rest of the chain exchanges.