>>What sort of liability are you thinking of Mark, just so I can put it in perspective for her?
Difficult to say. Partly I am no expert other than my own experience and partly because one would need to know this lease contract, these leaseholders and this building.
I would want to know why the Freeholder is offering it for sale. There are good reasons of course, but it's always better to know. I always ask why someone is selling anything I want to buy, be it a car, a bicycle or a freehold.
I suppose that post things would affect the price rather than the desirability of purchasing, not least because of the reasons Terry spoke of.
I guess there could be some awareness of major works required on the building, and simply wanting to avoid the hassle. Perhaps one or more of the tenants are a level of credit risk and the freeholder doesn't think they can/will pay their share.
Maybe something is going on around the building which will significantly change the value of the freehold, and perhaps the leases also.
Perhaps there is someone else the freeholder wants to sell to but has to offer it to the leaseholders first.
Perhaps there is something wrong with the construction making it uninsurable going forward.
Or maybe the freeholder needs money, or is ill, or just doesn't want the hassle.
I guess the point is that I don't know. And I don't like dealing with things when I don't know.
My primary questions would be; "Why sell at all?", "Why sell now?", "What will you do if we don't buy?" and then "Why this value?"
Last edited by: No FM2R on Wed 12 May 21 at 16:14
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