Freehold purchase of a block of 4 flats

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #16
    Originally posted by bullybantam View Post
    Can I throw in a "Baldrick" question?

    What's the difference between buying the freehold & buying the ground rents?
    Usually none. However, you could have a situation where A grants a long lease of a block to B, and B sublets the individual flats on long leases reserving a ground rent.

    Comment

    Latest Activity

    Collapse

    • Joint ownership swap on properties
      by space cowboy
      We have several rented out properties which we have inherited and have been left in Joint 50/50 ownership with another family member, We want to continue renting out but the other family member wants to sell his share.

      We have been told by our accountant we can swap properties of even value...
      13-05-2022, 14:16 PM
    • Reply to Joint ownership swap on properties
      by Gordon999
      If one of the 50:50 properties happens to be the "private residence" of other family member , you should allow in the swap that he receives the other 50% of the private residence ( to make up 100% ownership.)

      Private residence is relevant after property sale for claiming...
      16-05-2022, 08:41 AM
    • Carpeting Breach on purchase
      by Stevo h
      Hello
      we are on the final stages of purchasing a flat which was purpose built 3 years ago by a prestige developer to a high standard with lift nice kitchen fancy doors and windows.
      When reading the lease we noticed that it mentions about bedroom and hallway needed to have underlay and...
      13-05-2022, 09:42 AM
    • Reply to Carpeting Breach on purchase
      by AndrewDod
      I'd probably pull out if you don't want to carpet it....
      15-05-2022, 18:21 PM
    • Reply to Carpeting Breach on purchase
      by Stevo h
      So basically I cannot fight it without paying a big bill.
      so only choice is to pull out and face a big bill or pay for carpets Overton of nice flooring and paying again to have two doors trimmed.
      Tototally frustrated....
      15-05-2022, 17:14 PM
    • Reply to Carpeting Breach on purchase
      by Stevo h
      Looks like all 20 properties were sold without a single person realising that the flooring was wood and not ├žarpet meaning every one was in breach of their lease from the start.
      And the developer who still owns properties there and is registered as the company running the show Newmans Yard Ltd,...
      15-05-2022, 16:58 PM
    • Reply to Carpeting Breach on purchase
      by AndrewDod
      So you considered the contract that was being sold to you
      Accepted it
      Accepted a cash offer to make good and a rebate on purchase price

      It is not a "bizarre" thing

      > would the land lord need to take enforcement action against the whole 20 owners if...
      15-05-2022, 11:41 AM
    • Reply to Carpeting Breach on purchase
      by Stevo h
      After I noticed it and pointed it out the seller contacted her solicitor and the while can of worms opened,
      the seller hit a brick wall with all her attempts of getting answers and finally offered a cash offer for us to complete the work.
      But I am not really keen on having doors trimming...
      15-05-2022, 11:29 AM
    • Reply to Carpeting Breach on purchase
      by AndrewDod
      So when was the lease changed? You would have bought the lease from someone else. Leases don't just secretly change at the point of purchase. Nor do they change when the freeholder is changed.

      Yes I can see on the photographs the wooden floors in their sales pack.

      Why did your...
      15-05-2022, 08:57 AM
    • Reply to Carpeting Breach on purchase
      by Stevo h
      We only signed 1 lease.
      15-05-2022, 08:24 AM
    Working...
    X