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Last minute hitch

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  • Last minute hitch

    Hi all, i was at my solicitors this afternoon and it was noticed that a plot of land (small garden) that was advertised with the sale of the flat was not on the title deeds. After some to and throwing from the estate agent it was pointed out that all the small plots of land are in fact owned by the landowners and that an agrrement was made between them and the flat owners approx 10 years ago that they could divide the land up and do with it what they please. Now, it was my intention (thinking the land would be mine) to possibly offer it for sale to an ajoining plot in the future, should needs be. Would i be right to ask for a last minute reduction in the price? If so how much should i ask for? The plot is approx 25 x 10 feet.
    Any swift advice would be gratfully accepted.

  • #2
    sorry,forgot to add

    The flat is in borehamwwod Herts and the purchase price was £124,995

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    • #3
      Have you already signed anything?

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      • #4
        signed today for exchange but solicitor holding back until this is resolved, no deposit payed as yet

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        • #5
          In other words, you have not exchanged signed contracts or paid anything as yet?

          If so, it sounds like you haven't agreed a deal as yet, and have further room to haggle - though do ensure you stay within your solicitor's guidance in terms of keeping safe.

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          • #6
            I would have thaught that the freeholders would want to keep hold of the land for future reference. You could ask for a reduction in ground rent or maintanence charges tho, if you are looking after it yourself.
            But I doubt for 1 miniute that they would sign it over...... The flat was offered for sale with use of a garden, not ownership of 1. Wouldnt it have been more expensive if you owned the garden?
            now, if all the tennants were to group together and request the freehold be sold there might be something there. Am not to sure on the legal ins and outs, but basically all the flat owners would own the freehold together... sort of your own management company.
            Very complicated, and very tricky...

            I'd leave it as it is I think.

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            • #7
              Originally posted by Chris Boards View Post
              I would have thaught that the freeholders would want to keep hold of the land for future reference. You could ask for a reduction in ground rent or maintanence charges tho, if you are looking after it yourself.
              But I doubt for 1 miniute that they would sign it over...... The flat was offered for sale with use of a garden, not ownership of 1. Wouldnt it have been more expensive if you owned the garden?
              now, if all the tennants were to group together and request the freehold be sold there might be something there. Am not to sure on the legal ins and outs, but basically all the flat owners would own the freehold together... sort of your own management company.
              Very complicated, and very tricky...

              I'd leave it as it is I think.
              Agreed, Just leave it as it is.
              French Mortgage

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