We have been served notice that the freehold of our flat is up for auction. The property is a large semi detached victorian house converted into 2 flats, in south east London. Our flat is worth 420k and the other flat is worth 385k
Anyone had any experience with this, and any idea how much it is likely to cost?
2007-10-20 01:56:00 · 3 answers · asked by billy 5 in Business & Finance ➔ Renting & Real Estate
Shouldn't be too expensive maybe a couple of thousand at maximum. You and the other flatowner have a legal right to buy the freehold and it would increase the value of the property.
Talk to a lawyer!
2007-10-20 02:00:47 · answer #1 · answered by Luke Warnes 4 · 0⤊ 0⤋
Roughly 10% of the property value, but thats real roughly!! At auction it could go to silly money!
2007-10-20 02:00:04 · answer #2 · answered by Sal*UK 7 · 0⤊ 0⤋
I think it depends on the ground rent you are currently paying.Get together with your neighbour and try to do a deal pre auction.
2007-10-20 02:02:33 · answer #3 · answered by Max Power says relax 7 · 0⤊ 0⤋