Leasehold - 19 years left

Mickey666

macman said:

So you need to clarify exactly what you are being offered. If leasehold extension, how long?

Facebook isn't really the place to do a property transaction...

Can't see anything wrong in using Facebook to find a property or make an offer on a property - it's just an introduction for the two parties and in that respect not really much different to using an estate agent.  I once sold a house to a neighbour who knocked on my door, so I can't see why it matters how the first introduction is made.   Of course, if things progress and a deal is to be made then I'd emphatically agree that a solicitor is required. 

As for this particular case, I'd say the OP needs to be absolutely clear what is being offered here.  If the freehold really can be purchased for £55k then it's worth considering but if it's actually leasehold then that would be a whole different issue and one that I, personally, would not consider.  But at this stage, it seem the OP needs hard facts to confirm exactly what's on offer here.

eddddy

Kirkii27 said:

The lady of the property messaged me on Facebook as I’m looking to buy a property in the area. 

Maybe it’s 55k to buy the leasehold and she misunderstood what I’ve asked although I did say the free hold and that was the quote she got last year but couldn’t afford it so now wants to sell her property for 82k. 

You probably need to find out more about that £55k quote - whether it's come from a credible source.

As I said above, you'd either have to buy the leasehold and the freehold at the same time (and then you should be able to get a mortgage)...

... or, if your plan is to just buy the leasehold at this stage, and buy the freehold later, you'll need specialist professional advice - and there are risks. (The seller could serve a notice to start the process, and then you buy the house and complete it - if you want).

NameUnavailable

Kirkii27 said:

The lady of the property messaged me on Facebook as I’m looking to buy a property in the area. 

Maybe it’s 55k to buy the leasehold and she misunderstood what I’ve asked although I did say the free hold and that was the quote she got last year but couldn’t afford it so now wants to sell her property for 82k. 

A lot of people simply don't know what they are doing. People get shocked every day to find out that leasehold means they don't actually own the property. Some don't even know what a lease is and get shocked to find out they can't sell their place that has 70 years left to run.

You can find out the information from the Land Registry as to lease / freeholder. Then you need to get a new quote from the freeholder (for lease or freehold) and bear in mind that they could still change their mind about it.