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Cheers - yeah and I imagine more detail is in the paperwork when you get to that stage. I'd hate to have the liability of a share of a blank cheque for something.
No idea about who owns the freehold at the couple I've just pulled up - maybe whoever owns the most valuable part of the building and split it up initially?The vendor in this listing owns a share of the freehold https://www.rightmove.co.uk/property-for-sale/property-94897322.html
And then this one doesn't say anything about the lease at all
https://www.rightmove.co.uk/property-for-sale/property-83293792.html
bobble-
I had a flat that was half a terrace house and there was no service charge.
We shared the buildings insurance and paid for repairs as and when (with pretty much all being attributable to one flat or the other).
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I'd hate to have the liability of a share of a blank cheque for something.
Then rent.
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I'd hate to have the liability of a share of a blank cheque for something
There's no way round this if you're buying leasehold. You'll be liable for a percentage of the maintenance of the building, whatever it needs, just like if you owned (a percentage of) the building.
The added joy is that you're at the mercy of the freeholder to decide what work needs doing and when and who they get in to do it and for how much. The processes for objecting are fairly weak.
(OTOH the processes for freeholders to claim unpaid bills off difficult leaseholders can be equally useless)
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The vendor in this listing owns a share of the freehold https://www.rightmove.co.uk/property-for-sale/property-94897322.html
Share of freehold is generally good - it means you're in control, at least partially.
And then this one doesn't say anything about the lease at all
https://www.rightmove.co.uk/property-for-sale/property-83293792.htmlAsk them who the freeholder / managing agent is. Often when a plaec is cheaper than it should be, that's a sign of a predatory freeholder/managing agent, and it pays to be sure.
aggi
jellybaby
grams
ReekBlefs
Service charges are meant to be an allocation of actual costs plus a management fee rather than a fixed amount. Actually getting the information to verify this though is very difficult.
Who is the freeholder in that situation?