Offer to buy the Leasehold

mh93

eddddy said:

mh93 said:

Taken from the letter " The landlord proposes to sell the freehold of the property"

Yep - exactly.

So the title of this thread is wrong. and your first post is wrong. 
The title of the thread shouldn't be "Offer to buy the leasehold" - it should be "Offer to buy the Freehold"

And when you said:

mh93 said:

My mums, who's 84 and lives in a flat, received a letter recently from the landlords solicitor offering to sell the Leasehold.

You meant "offering to sell the Freehold".

But I knew what you meant!!!

apologies for the confusion

NameUnavailable

The issue you want to address is the length of the lease. Does your mother have the money to extend that now? If not then it's probably not worth buying the share of the freehold, as it's still a property with a very short lease and you would only be able to sell to a cash buyer, probably at auction.

However, if enough leaseholders don't agree to buy the freehold, it may be sold to a property company or investor and their motive for buying will only be to screw as much money out of you all as possible in service charges and fees for lease extensions, management packs etc.