I was looking at buying a property where the lease is only 74 yrs, but I had agreement with the current owner that he and the other leaseholders in the block were purchasing a share of freehold and this would be done before I completed.
It turns out that they couldn't agree between them how to proceed and now a property company has bought the freehold at auction.
My questions are,
1. what benefits does this company expect to get from buying the freehold
2. What potential problems could I expect if I carrried on with the purchase
3. Would I still have the legal right to extend the lease at a later date..
thanks in advance