Advice about ‘cash buyer only’ property buying

eddddy

RHemmings said

I'm wondering what might happen if a person approaches the freeholder, says that they are interested in buying the property and extending the lease, and working out how much that will cost ahead of time. As it's a bunch of cash for the freeholder, which hopefully would motivate at least some freeholders to cooperate.

That's what would be described as "negotiating an informal lease extension".

You have to be cautious with that because there are a lot of pitfalls, if you don't understand the lease extension legislation and/or don't understand the 'tricks' that freeholders can play.


It's sometimes the case that an inexperienced individual leaseholder is negotiating with a big professional property investment company, who understands 'the game' better; has legal advisers; and might be quite ruthless.