No Management Company in place for a flat

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propertyprof

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If have found a cheap flat for sale in UK. Its cheap because you cant get a mortgage on it because there is no management company in place.

I thought that I would try and buy the freehold of the block and set up a management company but its proving very hard to contact the freeholder.

Before I contact a solicitor, has anyone come across this before or have any how did you get over/around it.
 
Re: Not Management Company in place for a flat

Difficult to say since matters may be significantly different in the UK than they are here- you might have more success on an equivalent UK site with this particular query. Isn't there one called motleyfool or something similar?
 
have you tried the online land registry in the UK. you can pay £3 I think and you should find the freeholder.
i use this site a lot when i want to negotiate a good deal on a property because usually it will tell you how long the property was owned by the current owners and how much they paid for it. a good bargaining tool !
it would appear to be not unusual sometimes for the freeholder to be missing. he / she might even be dead ! is there no ground rent to pay ? usually the freeholder charges ground rent of £100 a year or thereabouts.
have you checked with the owners of the other flats in the block ? someone who has lived there a long time might know. maybe there might have been a mgmt co in place years ago that they might know about them. if you cant find the website address for Land Reg, then let me know and i'll send you it.
 
also, nethouseprices.com and rightmove.co.uk will tell you if any of the properties in this block have been sold in the last 5 years and how much they went for. perhaps if properties have changed hands over this period then you could contact new owners to see if they know anything.
 
lorna said:
also, nethouseprices.com and rightmove.co.uk will tell you if any of the properties in this block have been sold in the last 5 years and how much they went for. perhaps if properties have changed hands over this period then you could contact new owners to see if they know anything.
Click to expand...

another site is www.houseprices.co.uk type in the post code for the property
 
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