Purchasing the Freehold of a flat with a 64yr lease & a Landlord that cannot be found

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    Purchasing the Freehold of a flat with a 64yr lease & a Landlord that cannot be found

    Dear all,

    I am looking to purchase a first floor maisonette with a 64 year lease(valued at £225k based on an offer accepted at £250k).

    Having spoken to the groundfloor leaseholder (who has 87 years of her lease remaining) she has advised me that her solicitors were unable to make contact with the landlord.

    The building itself needs a fair amount of work - along with the first floor flat which is in a poor state. Both leases mention that the landlord should contribute to half of all repairs made to the building.

    A few questions:

    1) Can I look to purchase the freehold in conjuction with the ground floor flat straight away or do I need to wait two years?

    2) If the landlord cannot be found does this mean we will pay a reduced price compared to if the landlord was contactable?

    3) Does anyone know how much the freehold would cost to purchase? (the ground floor maisonette sold for £235k in Sept 11) - and would I have to pay a larger percentage as my lease is shorter?

    Thanks in advance for any replies.


    Matt

    #2
    The court will determine the lease extension or RTE or RTM for that matter.

    The terms will substantially be the same, the variance will be the absence of the negotiating stance of the landlord, and the effect on vlaue of their absence( because their is no one at the steering wheel ).
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

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    • Reply to Old managing agents accounts
      by eagle2
      I suggest that you apply to or take action against the freeholder directly, the agent is only acting on behalf of the freeholder. If you think that the freeholder is likely to supply information, you can ask him to volunteer it otherwise you will apply to the Tribunal. If he is unlikely to volunteer...
      26-05-2022, 05:38 AM
    • Old managing agents accounts
      by jazzythumper
      Since obtaining the RTM and changing the managing agent, we have never been given full accounts / receipts for the previous year(s). We believe that as the old freeholder and leaser holder of one of the flats were represented by the same solicitor that prior to the sale of the freehold, we were subsidising...
      20-05-2022, 11:21 AM
    • Reply to Old managing agents accounts
      by jazzythumper
      would this be a good starting point?

      https://www.lease-advice.org/faq/how...eing-used-for/...
      25-05-2022, 15:37 PM
    • Reply to Old managing agents accounts
      by jazzythumper
      As in a simple application to the old managing agent Or freeholder? Which one?

      To provide all accounts and payments based on the fact that we disagree with the charges? How far back can we go? And does having paid the service charges mean we have agreed to these?

      Thanks for...
      25-05-2022, 15:31 PM
    • Reply to Freehold confusion
      by Section20z
      It's never advisable , it can cause serious issues if you have a claim affecting communal areas. For buildings insurance the whole property should be covered and the cost split between the two flats.
      The only problem with an absent freeholder is that when selling the flat a pernickity solicitor...
      25-05-2022, 10:02 AM
    • Reply to Share of feehold/shared service charges?
      by Stu1020
      eagle2,

      Thank you for the response.
      25-05-2022, 09:40 AM
    • Reply to Freehold confusion
      by AndrewDod
      There is no cast iron rule that the freehold "share" has to be transferred with any sale. You may need to purchase it from the friend (or his estate)....
      25-05-2022, 09:22 AM
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      by Stu1020
      Hi there,

      I'm new to the forum and looking for advice on a sticky freehold situation.

      I own a two-bed flat in a converted building with two one-beds. The lease states that a fair proportion is payable towards the service charge. However, there has been a running agreement of...
      20-05-2022, 11:39 AM
    • Reply to Share of feehold/shared service charges?
      by eagle2
      I suggest that you ask the other 2 leaseholders to explain why they consider that the current allocation is fair. The freeholder has the right to review the allocation from time to time. Unfortunately, a "fair proportion" means that several alternatives would be considered reasonable to a...
      25-05-2022, 06:27 AM
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