Solicitor for Freehold purchase

dr_who_3

Our leasehold management company have offered us the option to purchase the freehold of our house at a discounted rate. We want to take them up on the offer. 

Do we need a solicitor? 

Slithery

Yes, you do.

eddddy

Are you sure it's at a discounted rate - compared to if you bought the freehold using the statutory route?

Buying the freehold might be a very straightforward process - but there could be complications, so it might be best to use a solicitor who's experienced in this stuff.

Things to look out for include: the seller wanting to transfer inappropriate covenants from the lease to the freehold; rights under the lease which aren't transferred to the freehold.

Do you want to mention what ground rent you pay, the length of lease and type of house - e.g. Old victorian terrace, modern house on an estate with service charges and communal areas, etc

dr_who_3

eddddy said:

Are you sure it's at a discounted rate - compared to if you bought the freehold using the statutory route?

Buying the freehold might be a very straightforward process - but there could be complications, so it might be best to use a solicitor who's experienced in this stuff.

Things to look out for include: the seller wanting to transfer inappropriate covenants from the lease to the freehold; rights under the lease which aren't transferred to the freehold.

Do you want to mention what ground rent you pay, the length of lease and type of house - e.g. Old victorian terrace, modern house on an estate with service charges and communal areas, etc

Thanks - it’s a minimal sum of £3 a year and has a long 730 year lease left on it. House is 1930s semi.
Not sure on the discounted bit - we hadn’t looked into it to be honest they reached out and offered. Thanks for your reply - sounds like we would be best getting a lawyer 

K_S

dr_who_3 said:

eddddy said:

Are you sure it's at a discounted rate - compared to if you bought the freehold using the statutory route?

Buying the freehold might be a very straightforward process - but there could be complications, so it might be best to use a solicitor who's experienced in this stuff.

Things to look out for include: the seller wanting to transfer inappropriate covenants from the lease to the freehold; rights under the lease which aren't transferred to the freehold.

Do you want to mention what ground rent you pay, the length of lease and type of house - e.g. Old victorian terrace, modern house on an estate with service charges and communal areas, etc

Thanks - it’s a minimal sum of £3 a year and has a long 730 year lease left on it. House is 1930s semi.
Not sure on the discounted bit - we hadn’t looked into it to be honest they reached out and offered. Thanks for your reply - sounds like we would be best getting a lawyer 

@dr_who_3 With 700+ years left on the lease and £3pa ground rent, do make sure you're clear on what (if anything) you're gaining by buying the freehold and compare it to the cost of doing so.