Freehold Maisonette – why is this a bad thing?Make Text Bigger
We have just put our freehold maisonette up for sale. It is ex local authority and ground floor, the property above is still local authority, although I believe the adjoining two are private. Buyers will not be able to get a mortgage, because it is freehold. This has never been a problem to us (cash buyers), any more than adjoining any other private property. The council has been kind enough to replace the roof (flat) without contacting us. When I contacted them to discuss the broken gate, this was replace directly.
So why is there this problem about the place being Freehold? Is there any way around it? How could it become leasehold? At the moment we have told the estate agent to market as cash only, but they have stressed that so much it sounds as if the place is falling down.
Any advice would be appreciated.
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