Yahoo! Real Estate. Cost Of A Leasehold Property With 17years Left On The Lease In 1982?

Yahoo! Real Estate. Croydon Surrey Terraced Property Divided Into Two Flats Not Self Contained Sitting Tenants Two Bedroom And Sittingroom In Each Bu

Yahoo Real Estate : Cost Of A Leasehold Property With 17years Left On The Lease In 1982

Croydon Surrey terraced property divided into two flats not self contained sitting tenants two bedroom and sittingroom in each built in 1907 Lease expired in1999 ~~~ Elaine H ~~~

Best Answer To Yahoo Real Estate Question

Oh dear. If you're thinking of purchasing this property, please think again. There aren't many lenders who will touch a property without some type of lease (it adversely affects the lender's security). And in addition, there normally needs to be at least 70 years unexpired term remaining on it. Also, the element of sitting tenants is another 'turn off' for a lender. It may be unlikely that you can amend their tenancy agreement if you purchase the property as is. And if this is the case, most legitimate lenders won't be interested because they like to have their own approved agreement in place. Again, this negatively affects the lender's security if ever litigation/ repossession were to take place. I think you need to really keep looking. Nice area thoug... Good luck in any case! K

All Answers To Yahoo Real Estate Questions

Answer 1

It sounds dodgy... dont buy it unless you have the option of buying the lease and making it freehold.

Answer 2

Oh dear. If you're thinking of purchasing this property, please think again. There aren't many lenders who will touch a property without some type of lease (it adversely affects the lender's security). And in addition, there normally needs to be at least 70 years unexpired term remaining on it. Also, the element of sitting tenants is another 'turn off' for a lender. It may be unlikely that you can amend their tenancy agreement if you purchase the property as is. And if this is the case, most legitimate lenders won't be interested because they like to have their own approved agreement in place. Again, this negatively affects the lender's security if ever litigation/ repossession were to take place. I think you need to really keep looking. Nice area thoug... Good luck in any case! K

Travel - Austria Entertainment & Music - Celebrities Entertainment & Music - Music Pets - Dogs Sports - Golf Games & Recreation - Board Games Dining Out - Switzerland Arts & Humanities - Arts & Humanities Sports - Hockey Sports - Fantasy Sports Family & Relationships - Marriage & Divorce Health - Dental Dining Out - Canada Business & Finance - Investing Science & Mathematics - Engineering Education & Reference - Special Education Local Businesses - Canada Science & Mathematics - Physics Cars & Transportation - Car Audio Dining Out - United Kingdom Cars & Transportation - General Travel - Cruise Travel Yahoo! Products - Yahoo! Bookmarks Consumer Electronics - Home Theater Politics & Government - Immigration Travel - Spain Social Science - Gender & Women Studies Cars & Transportation - Aircraft Science & Mathematics - Earth Sciences & Geology Food & Drink - General Sports - Winter Sports Yahoo! Products - General Travel - Caribbean Games & Recreation - Hobbies & Crafts Dining Out - France Social Science - Psychology Dining Out - Argentina Business & Finance - Corporations Local Businesses - Australia Entertainment & Music - Television Cars & Transportation - Cars & Transportation Health - General Health Care Education & Reference - Higher Education - University Games & Recreation - Video & Online Games Local Businesses - Argentina Sports - Football (American) Dining Out - Mexico Pets - Cats Consumer Electronics - Music & Music Players Politics & Government - Politics

Copyright 2008 z246.com, All rights reserved.

Home | Privacy Policy | Web Site Agreement | Powered by Yahoo! Answers

z246.com