Freehold/leasehold carry on

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Matty said:
Wish that was the case with mine, as said above take the fee that's owed, it's your legal right, it's his problem to sell it and if he doesn't and let's it run it's all good for you in the long term. A lot of people will have bought these and not paid any attention to how long the leases have left. This is who I used http://mjboaden.co.uk/leasehold-timebomb/
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I came across his details today, would you recommend him?

Roger said:
Is that wise? I confess to not being a contract law expert, but lots of things don't seem to be deemed as a contract until their is some financial consideration in place, a peppercorn rent would probably suffice.

Slightly different, but I know I have been advised not to do "free" work for charities so that a contract is enforced (ie. showing they agreed to my terms) so I charge them £1, invoice them for that and then put it in their collection tin!
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Probably not, but he lives in Australian and the idea of chasing round demanding my few quid a year never appealed.

Just checked the docs and it looks like I have full freehold of both properties i.e. It's not a Tyneside flat lease/crossover lease, so I have to be entitled to a decent wedge if he wants to extend it.
 
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Joe Public said:
I came across his details today, would you recommend him?



Probably not, but he lives in Australian and the idea of chasing round demanding my few quid a year never appealed.

Just checked the docs and it looks like I have full freehold of both properties i.e. It's not a Tyneside flat lease/crossover lease, so I have to be entitled to a decent wedge if he wants to extend it.
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I found him to be a good help, he knows what he's dealing with, give him a call and talk him through the situation if nothing else.
 
Joe Public said:
I came across his details today, would you recommend him?



Probably not, but he lives in Australian and the idea of chasing round demanding my few quid a year never appealed.

Just checked the docs and it looks like I have full freehold of both properties i.e. It's not a Tyneside flat lease/crossover lease, so I have to be entitled to a decent wedge if he wants to extend it.
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if you've got kids the asset will appreciate each year the lease gets shorter.
 
He knocked it on the head but has now come back and offered £2k, reckons it’s the most he can offer.

Not sure what to do, calculators on the net value it at between £5-6k, I could use the cash tho.

Is it possible to raise the ground rent if I accept a lower offer?
 
Joe Public said:
He knocked it on the head but has now come back and offered £2k, reckons it’s the most he can offer.

Not sure what to do, calculators on the net value it at between £5-6k, I could use the cash tho.

Is it possible to raise the ground rent if I accept a lower offer?
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Hold out for the 3 grand you wanted. This is his choice, not yours. Just say it's because of Brexit etc
 
Mackem00 said:
Ill never understand this whole leasehold freehold carry on.
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Nor me.

Hoping someone would explain it. Seems absolutely mad.

Hello yes would you like to buy a flat for the same price as any other flat except you also have to pay ground rent and if your kids inherit it they’ll only have it until the lease expires
 
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