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Hi,
Firstly thanks for all advice offered this site is invaluable.
I owe a leasehold property and have just received a notice saying that the freeholder is intending to sell this via auction in 3 months.
My main questions are, should this be a cause for concern?
Are we able to purchase this before it goes to auction and if so where do you start on price.
The property is split into 2 so I'd be purchasing with my neighbour below so I'm guessing we would split it down the middle.
Properties are valued at approx 250k each, our ground rent is around 20 a year and both have around 100 year lease.
Thanks
Firstly thanks for all advice offered this site is invaluable.
I owe a leasehold property and have just received a notice saying that the freeholder is intending to sell this via auction in 3 months.
My main questions are, should this be a cause for concern?
Are we able to purchase this before it goes to auction and if so where do you start on price.
The property is split into 2 so I'd be purchasing with my neighbour below so I'm guessing we would split it down the middle.
Properties are valued at approx 250k each, our ground rent is around 20 a year and both have around 100 year lease.
Thanks
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