Owning your own home

I guess your friend could always just sell and rent for a bit to decide what they want to do, and would be in a better position by being chain-free?

Our seller though told us from the start that they were going to move into a rental and it completely baffles me that now more than 6 months later, they've only just started to look for somewhere because we've said we're ready to complete.

completely baffles me that now more than 6 months later, they've only just started to look for somewhere because we've said we're ready to complete

Seems reasonable, that's 6 months of rent saved already by them.

Our seller though told us from the start that they were going to move into a rental and it completely baffles me that now more than 6 months later, they've only just started to look for somewhere because we've said we're ready to complete.

Reduce your offer.

Find somewhere else. Plan b. Do it now.

This behaviour is kind of inevitable if sellers say they only want offers from 'proceedable' buyers though. You have to have agreed to sell to view somewhere; what are you supposed to do if you can't then find somewhere you like?

Our seller though told us from the start that they were going to move into a rental

This is being a dick though

Have been looking over the last couple of months in anticipation of something bad happening, and haven't found anywhere that comes close to this place. It really does tick all of our boxes. There's also the stamp duty holiday - unlikely to find somewhere new where we could complete before that ends.

So we could reduce our offer, but if they said no we would have to go back with our tails between our legs.

You might be in for a long wait. Or circumstances can change. Keep looking and good luck!

It's not sellers currently putting this in place, it's pretty standard for every agent I've dealt with at the moment. This is the situation I'm in, couldn't view/secure anything until we were under offer, now under offer there's bugger all suitable about.

Agents can only do what the sellers tell them though? If you're selling and you say to the agents you don't want them to filter offers by people with theirs sold already, then I would have thought they have to allow more views - they act for the seller.

Don't tell me that though, that's literally what I'm worried is about to happen to me as we're looking to put ours on the market!

What concerns should I have about buying a house 2 doors down from a cafe/bakery?
The bakery's rear borders one side of the garden (not any other part of the house) and is subject to a party wall agreement which the Agent has sent us.
The house is otherwise good. It's just off a busy high street (which has many benefits) so it's never going to be quiet.

Weight gain?

It might stop being a bakery and become another A1 it A3 business at any point which might be annoying. I wouldn't mind the smell of fresh bread drifting in through my windows for example but I'd be less impressed if it became a greasy spoon and I had bacon odor 7 days a week

Expect a radio on at 4 am, lots of banging and clattering and big deliveries.

Upside might be free hot doughnuts.

Thanks for the replies on leasehold ownership. We want to buy with our one neighbour but he’s insisting on holding it as a company and not just split. I can’t understand his position. No admin ever vs annual company accounts and fines if we don’t keep on top of things 🤷‍♂️

Yeah that's mad.

I think it may have something to do with liability.

Wanna hint less and explain more?

One upside of a company holding the freehold, is it's easier to transfer contracts (insurance/maintenance) if the owners change. Also our solicitor said its less of an administrative burden when a leaseholder decides to sell. I'm going through the process now and (rightly or wrongly) we went with a ltd company.

Interesting, thanks. I’m not 100% against it, he’s just not given any reasons why, apart form being advised by his sister-solicitor. I just can’t be fucked doing company admin.

The smells coming from bakeries aren't always pleasant. I used to regularly walk past one in the small hours and it was kind of yucky and sour.

Fuck my typing.
Think.
Edited. Sorry.

Possibly something to do with liability if something bad were to happen, the holding company is responsible rather than the directors directly, that prob makes no sense.

One upside of a company holding the freehold, is it's easier to transfer contracts (insurance/maintenance) if the owners change

I can see that being an issue with a bigger block where there may be a number of contracts in place but for two flats I can't see you'd have much. I've bought and sold a place where it was just held by two individuals and the admin was minimal (an email to the insurance broker to say who was moving in and who was moving out).

The paperwork on moving was probably less extensive than transferring a share and changing directors.

I’m quoting you in our negotiations 😉

Sold my first flat a ground floor in a Victorian terrace in beckenham. Share of freehold, 2 weeks after completing and moving out I had a letter from the buyers solicitor to say that had forgotten to transfer the freehold into the buyers name upon completion and could I sign the paperwork....FML, ohh how we laughed

I am buying a flat which is share of freehold not as a company, the first lender which we were going to use for the mortgage wouldn't do share of freehold without a company. Had to switch to Barclays who were fine with it.

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