Talk

Advanced search

Can I sell actual roof when selling a flat - and creating a leasehold but I am still freeholder

(13 Posts)
LeavesinAutumn Tue 10-Oct-17 18:34:49

two properties I am selling off top flat, I have been told, usually its just flat not even roof space you sell ( create leasehold with) then you can always sell the owner the roof space at a later date.

However I want to include the loft space but also include the roof, I dont want to retain responsibility for it, has anyone got this, done this, have this grin

JoJoSM2 Tue 10-Oct-17 18:55:38

Would it make sense to convert to sell a bigger flat for more? Or at least secure a permission for a conversion?

If it’s a big space, perhaps even stick another flat in there?

You’ll make more money that way.

ReviewTime Tue 10-Oct-17 19:02:24

If you're keeping the freehold and making it leasehold, you always retain responsibility for the building itself and therefore roof.

If you want to make this shared, you can make it "share of freehold" but you'll still be jointly responsible.

I'd contact a conveyancer who does leasehold / freehold for advice.

LeavesinAutumn Tue 10-Oct-17 21:26:49

It's in need of extensive work and I want to off load it. I don't have the money to do the attic, it's also low income area. And hundreds of miles away hence want to lower my responsibilities as much as possible m

GoldTippedFeather Tue 10-Oct-17 21:31:32

Why not just sell the whole building a buy somewhere else?

A roof in need of extensive work will come up in any survey and buyers will want money off, so you will end up paying one way or another.

LeavesinAutumn Tue 10-Oct-17 22:02:52

Yes I have considered it but I get a decent rent from the flat below.
I am selling flat above and at bargain price, I am also included loft which is unusual I have Been told so buyer gets benefit of that too ie option to extend into it.

I suppose another way round it is to make leasehold liable for 50/
% roof.
I just wonder how tailored to what I want I can make a leasehold

GoldTippedFeather Tue 10-Oct-17 22:36:22

Ah I see, you want all the benefit of the property but none of the responsibility.

LeavesinAutumn Wed 11-Oct-17 10:32:53

yes as much as i can help it because I dont live near it and I am selling it at a good price. It might over all benefit me to sell it whole, as In I would get a better price because the below would help the top. Thats what 3 estate agents have told me anyway however I know the person who wants to buy it - im selling it cheap but it needs work so i would like to off load some responsibility for the roof.
If buyer goes into roof and damages it - ie loft extension I dont want to have anything to do with it. There are other areas I am still responsible for.

Spickle Thu 12-Oct-17 00:24:15

Is it a house which has been converted to two flats? Someone owns the bottom flat and you are selling the top flat. Are you the freeholder of the whole building? Could you not offer 50% of the freehold to the owners of the bottom flat and 50% of the freehold to the top flat, along with the sale of the leasehold interest. That way, you get the sale proceeds of the top flat, along with the sale of the freehold title to the leaseholders for both flats, then you won't have any responsibilities to the building at all.

Waterlemon Thu 12-Oct-17 22:09:10

I used to own a 1st floor leasehold maisonette, ex LA. We owned the loft space, but all "outside" parts including roof, were owned and mantainted by the freeholder

. It is generally this way as otherwise the downstairs flats could suffer through no fault of their own, if the top floor owner was negligent and left the roof to cave in for example.

However, although the freeholder was responsible for repairs - the total cost wAs split between all 4 properties, regardless of which proprty benefitted from the repairs/mainternance. Again, this is standard practice. there are legal procedures to follow should the works cost more than £500 per property.

GETTINGLIKEMYMOTHER Fri 13-Oct-17 05:00:19

Is there some particular reason why you want to retain the FH?

We have an upper maisonette - just 2 in the building - and went on to buy the FH because of a (supposedly) absentee FHolder when we bought, which caused all sorts of problems and delays. The owner of the downstairs flat did not want to buy their share. When we eventually come to sell we will sell with the FH - it will mean that anyone later wanting to convert the attic can do so without having to ask permission.

LeavesinAutumn Sat 14-Oct-17 10:35:18

Thanks for all different ideas an situations. I am getting rent from bottom property it's my only income. So I intend to hold onto it for as long as I can because selling the flat above releases money to me but over all it diminishes the value of the property. So the longer I hold onto downstairs the property will hopefully increase in price and I get rent to plug that loss.
I have no other income or pension so this is it.

LeavesinAutumn Sat 14-Oct-17 10:36:08

I was also told when coming to sell in the future it's more attractive to buyer to sell freehold as well

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now