Freeholder

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L
Les_788
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Background
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
Les

28/11/2006 00:00

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