We are going through the legals of purchasing a leasehold property in sheffield
The freehold is owned by coppen estates - 160 years left , £30 a yr ground rent
We are informed by the vendor that he has not received any bills for the ground rent in the time he has owned it.
In order to add value we would like to purchase the freehold after purchasing the leasehold i.e after completing the purchase. Apparently we would have to own it for 2 yrs? what steps can we take / ask the seller to take to ensure that we will not have to wait the 2 years?
does anyone that has done this have any idea of the costs involved ? i.e legal costs/ costs to purchase? and a recommended solicitor that has dealt with them ?