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That's reassuring, thanks.
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Should I just walk away
Be aware that the 10 year doublers are probably the worst of the worst abuses in ground rent / leashold land. I would be highly suspicious of nasty surprises elsewhere in the docs for any estate that had these clauses and freeholder / developer that included them.
That said, if you are 100% sure you can buy the freehold at a fixed price (DO NOT TAKE THE SELLER, THE FREEHOLDER OR THEIR SOLICITORS' WORD FOR IT) it may still make sense to proceed.
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That said, if you are 100% sure you can buy the freehold at a fixed price (DO NOT TAKE THE SELLER, THE FREEHOLDER OR THEIR SOLICITORS' WORD FOR IT) it may still make sense to proceed.
So our solicitors would need to confirm and provide stipulations? I was told that someone else had bought the leasehold out so it sounds simple enough on paper, but I have the fear. (As does Howard) Is there a shortcut to this info.. get a solicitor to look into it straight away?
Thing is the house ticks all the boxes so the risk/reward is fecking with me -
Isn’t everything changing in 2024? if the proposed legislation goes through?
i have a lease to extend at some point which i know is about 25k but i have decided to sit it out and see what happens as the marriage value is a significant chunk of that.could you just buy and wait for the leasehold situation to change to your advantage?
i appreciate there are no guarantees. -
Fuck buying a leasehold house.
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They'll probably say it's priced in (although don't let that put you off a reduced price).
Don't you need to have been there for two years before buying it? I'm no expert but I'm pretty sure there's something like that.
If you want it I'd tell them that you want them to sort it and you'll pay? (But obviously be aware this could slow down the buying process.)
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I'm in a freehold house but still have to pay (tiny) ground rent
How does that work???
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Seems like you are a bit out of your depth.
You shouldn't be trying stuff with the circuits live, mains tester screwdrivers are the first thing they will tell you to throw away on a electrical course.
As you've lost track of what you have in the ceiling you need to test the circuits with the power off so you need a proper rated voltage tester that has a continuity tester integrated. There are other ways like a battery and light bulb but you need a proper voltage tester anyway if you plan on lasting in your new hobby.
Switch of the power to the circuits you are working on. Test that the power is off. Take the switch off the wall and connect the 2 wires together. Now find out which of the two wires in the ceiling have continuity when these are connected. Once you have established which wire is the switch line you should be good to go since the other 2 are loop in and loop out.
For you own safety please stop fiddling about with live circuits equipped only with a voltage testing screwdriver. Electricians are not especially patient but the living ones have a respect for electricity and only the experienced ones are working on live circuits.
Google the mains testers to see why you don't want to use your finger to provide the path to earth for 240v.
I use one of these Martindale, they are not the greatest but they're quite cheap considering an alternative possibility is death by electrocution.
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Bought!
Do you have a preferred cable cutter/plier combo?
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The previous owner bought out the freehold, but the additional covenants on the deed still apply.
It's in a development, with a security gate, private lampposts, topiary, refuse collection etc.
Apparently it's quite common for modern developments with shared amenities to require a service charge. I'd never buy one again though.https://commonslibrary.parliament.uk/freeholders-estate-and-service-charges
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Everyone seems to have their own favourites and they all have pros and cons but I carry a version of these and like them a lot.
They come in different finishes and handles but also some are sprung with a lock some unsprung. I use a sprung version. The ones I've linked to are the sprung version i.e. they spring open when not locked to make it easier to use them one handed.
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Owner said last night, "it's just £200pa but if we were staying we'd remortgage and buy it out" seemed genuine but pinch of salt etc
I like the stipulation of sale, I was considering something like that (that would require them to have that cash though and since I'm trying to lowball them I doubt the upfront payment would fly
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Would buy.
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Ourlittledoerupper
Love those ones.
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Oh blimey, this is just on a normal road with no (obvious) shared amenities, but I've made a note of it
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Knipex is the usual goto, isn't it?[Edit] Late to the party
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Owning your own home
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