Probate sale with a Freehold/Leasehold issue

[Joe forrester]

Hi,

 

Just wondering if anyone could give me any pointers / shed some light on a flat which has just became available.

 

The flat is up for sale as a probate sale , it is not up at market yet but I know some of the details as the man was part of our cricket club.

 

What I have been told is the estate agent has came around and valued this ground floor flat at around £100,000, this was before she realised it was a leasehold flat.

It is not an external company who owns the freehold, each of the four flats in the block own a quarter each.

I am unsure how long is left on the lease though.

the flat is in need of a full refurbishment.

 

my questions are: Is this an easier sale than a normal leasehold as I would be gaining a quarter of the freehold during sale?

How am I able to find out how long is left on the leasehold for that flat?

Is there any issues which I would need to look out for if the number of years left on the lease is lower than expected?

Would how many years left on the lease be an issue if needed to extend as with owning a quarter of the freehold the flat you basically own the freehold on the flat in question?

 

I am not so clued up on leasehold /freehold so if any of the above is incorrect please correct me and any information given would be appreciated.

 

Thanks

 

Joe Forrester

 

[Joe forrester]

For some reason this post has posted about 5 times sorry.