Have I been scammed into Leasehold?

Could you just clarify the situation for anyone thinking of buying a property at an auction:-
An unscrupulous seller can list at an auction a property at an auction which he knows full well to be leasehold as a freehold property. Then, late in the day before the auction starts notifies the auctioneers, Oops I should have listed it as leasehold please change the listing to leasehold.
Is this not attempted fraud?

Reply to the comment left by at 09/07/2021 – 15:18silversurfer2017 No it is not.
Buyer Beware. What you describe is undoubtedly sharp practice and reputable auctioneers would issue a very clear notice before the Lot but it is not fraud. It is not uncommon for a freehold to turn out to be a long lease. Buying at auction is risky for amateurs. You need to scrutinise
the special conditions in advance and check them again on the morning of the auction.
It will be very hard to prove the seller “knew full well” and deliberately proffered false conditions with the intention of changing them.
Whether there should be more regulation of auction sales is a different question.

Reply to the comment left by Gracie at 09/07/2021 – 12:25
Not true. I just bought a leasehold property. £12 a year lease. Hasn’t been collected for years, the families linked to the lease are all dead and gone 999 year lease – about 30 years. Mortgage via Mortgage Works no problem.
Can’t see any problem. Don’t think I will be worried about renewing the lease at the end of the term!

Reply to the comment left by Andrew57 at 09/07/2021 – 22:58
in my contract there are statements like i can sell it to only cash buyers because of the high ground rent. and the rent is only for ground not maintanance and etc

so it really depends. if your is only 12 pounds a year, go get the freehold maybe?

my contract includes a phrase as “ NO MORTGAGE LENDER WOULD PROCEED WITH SUCH A HIGH RENT, WHICH MEANS WHEN YOU COME TO SELL, YOU CAN ONLY SELL TO A CASH BUYER” does this mean it can be sold only by cash or can it be mortgage aswell?

problems dont stop with these 999 years lease hold proporties that have high anual ground rents , which that gets showed as freehold

Reply to the comment left by Andrew57 at 09/07/2021 – 22:58

Are you seriously disputing what I’ve said about ground rent of £1k, based on your £12??
Never mind apples & oranges, you’re comparing apples & chairs!! Do yourself a favour & research “onerous ground rent”

Reply to the comment left by andrew samuel at 09/07/2021 – 23:34

Exactly, like I said that’s why it’s at auction-cash buyers only, banks won’t mortgage it these days unless that ground rent is amended & I’m guessing the freeloader sorry freeholder is enjoying the income. I presume it’s not on an estate therefore you can possibly buy the freehold but it will not be cheap. You’d need a solicitor who is very good at leasehold – I’d suggest you learn as much as you can about leasehold pitfalls first so that you can ask the right questions, as the experience of many leaseholders is that many solicitors THINK they know leasehold & end up giving bad advice. “You don’t know until you know” Join the national leasehold campaign website / Facebook page & leasehold knowledge partnership site too. Ask lots of questions.

The auction lot description does say it’s a leasehold under the “Additional Info” tab. If this has been changed last minute I would try to sue the auction, however if it’s been that way from the beginning, it’s nothing more than a questionable practice.

Reply to the comment left by alocjtoi at 10/07/2021 – 10:25
please check the “legalpacks” it says it all.

thanks for stating the “ additional info “ part, but teneture was added on the day of the auction.