Whether the previous owners of the property have paid all outstanding service charges and if the landlord is planning any major building works you will have to contribute to. The seller’s legal representative should provide an LPE1 form and supporting https://www.goodsellerairmax.com/ documents which will help clarify these issues. Are there any upcoming works for the building that you will have to budget a lump sum for? More information on purchasing a leasehold property can be found below and in the How to lease guide.
If you are considering a specialist retirement property, you should be aware that it is different from buying a freehold home. The property is likely to be leasehold and you may have to pay ground rent, service charges and event fees, or be subject to restricted sales clauses. You should do your research carefully and make sure you and your legal representative check the small print … Read MoreRead More →