Q: To be brief, I am in the process of buying a house, the lease and the lease is so short that it unmortgageable. The owner is bankrupt and the receivers in connection with the sale, so there is no money to extend the rent or buy the owners freehold.
The lawyer intends to buy or sell freehold sale of our days . So my questions are . .
how long does it take to buy an inalienable (it has been 4 weeks since the cost of their own inherited and still no answer and asked everyone thinks this is normal)
is a better suggestion for the acquisition of full ownership, except to buy from us, before we move in, or wait until we move in? Solicitors
is the idea practical / possible / worth (he is a little one!)
I'm not sure about buying the freehold, but with renewing the lease you have to have lived in the place for two years, but if the vendor serves the notice of intent to renew it that gets passed on in the sale as part of the deeds etc to allow the buyer to carry on renewing straight away.
It could be quite a long process but that site should help you out.
If you don't need a mortgage you could still go ahead but it could be a tremendous amount of hassle to buy the freehold and might cost several thousand pounds, depending on the value of the proeprty and the length of the lease. If you didn't ever buy the freehold then as the lease got shorter the value would go down and down.
The other option is to go and buy something else.
Sometimes the freeholder can't be found – see this thread:
http://www.consolidation-debt.tk/showthread.html?t=435544
So it is important to establish that the freeholder is still at any address that the solrs have for him etc. If nobody is really sure how to get hold of him, then you might get an answer next week, it might be never.
If he is contactable, then it may still take some time for him to work out what the freehold should cost – if the lease is very short then the cost of the freehold will go up quite a lot and he would need to take advice about how much it should be.
As a conveyancing solicitor I believe the information given in the post to be useful but I accept no liability except to fee-paying clients