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Sale Of Freehold


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But lets say i'm going to stay here another 25 years tops

thats only £ 150 ish @£6 per year

This sum cant go up AFAIK

Theres no covenents to say what i can and cant do

The house is in a conservation area

Why should I buy it  and

Why would anyone else want to buy the freehold ?

its a long investment 800+ years

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I agree with what has been said above.    However, if you were thinking of selling, the question is how much would having the freehold increase the value of your house.  Admittedly that's a bit of an unknown, but some people are wary of leasehold.

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thats about 400 years ground rent. We had the similar situation with a very low ground rent and the lease holder offered it for us to buy. 

 

They want to get rid as its more hassle for them to process your payment. If its including all legal fees then i would go back with a lower offer. £1000 now is a lot better than £6.20 a year. Make sure you get all your forms sorted and speak to land registry if you are going to do it yourself, they can guide you through everything. Going through solicitor will only cost more.

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3 hours ago, ttparsons said:

I agree with what has been said above.    However, if you were thinking of selling, the question is how much would having the freehold increase the value of your house.  Admittedly that's a bit of an unknown, but some people are wary of leasehold.

This exactly, many people won't even consider a leasehold place, or if they do will knock some off the value to allow for the purchase.

1 hour ago, sheffbag said:

thats about 400 years ground rent. We had the similar situation with a very low ground rent and the lease holder offered it for us to buy. 

 

They want to get rid as its more hassle for them to process your payment. If its including all legal fees then i would go back with a lower offer. £1000 now is a lot better than £6.20 a year. Make sure you get all your forms sorted and speak to land registry if you are going to do it yourself, they can guide you through everything. Going through solicitor will only cost more.

For piece of mind it's best to get a solicitor to do it all, it's not something you really wanna mess up.

Edited by geared
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