ASK272: I’ve made an offer but not heard back – what should I do? PLUS: Should I buy the freehold?

Rob & Rob are back again with another two great questions to answer.

Up first we’ve got Jess. 

She put in an offer on a flat and got a response from the vendor that they wanted something a bit closer to the asking price. Jess then put in a counter offer, all cash, £2,500 under the asking price. 

In most cases this would be a pretty decent offer that’s likely to get snapped up with the ability to move fast on it. 

However, Jess still hasn’t received an answer from the vendor. She hasn’t had her offer accepted or rejected and is questioning if he’s not a serious seller and should she just move on. 

The second question this week comes from Neale who has a question about freehold.

He has a one bedroom buy-to-let apartment which is one of five within the development. 

It had previously been poorly managed and recently Neale and fellow landlords took over the management. The freeholder has recently indicated that they’re willing to sell the freehold to the five apartments. 

All five parties are keen to proceed, but Neale wants to know if there’s any real benefit to owning part of the freehold?

Will the value of the properties increase if he owned the freehold?

Tune in to find out.

 

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