Property auction advice
We've seen a property we are interested on an auction site.
Downloaded the legal pack and had a quick shufty through all the blurb.
In the contract, at the end 2 things appeared that concerned us..
68 RE LACK OF LEASEHOLD INFORMATION: The Seller does not hold any Leasehold
Information for the property. This has not been provided by the registered Freeholder. The
buyer hereby acknowledges that the property is sold in the absence of this information and
shall raise no requisition or objection following exchange of Contracts with regard to the
lack of Leasehold Information
Does anyone know what ramifications this could have ?
Neither of us are particularly knowledgeable in property matters and would obviously get the legal pack dissected by a solicitor before proceeding. TIA
Downloaded the legal pack and had a quick shufty through all the blurb.
In the contract, at the end 2 things appeared that concerned us..
68 RE LACK OF LEASEHOLD INFORMATION: The Seller does not hold any Leasehold
Information for the property. This has not been provided by the registered Freeholder. The
buyer hereby acknowledges that the property is sold in the absence of this information and
shall raise no requisition or objection following exchange of Contracts with regard to the
lack of Leasehold Information
Does anyone know what ramifications this could have ?
Neither of us are particularly knowledgeable in property matters and would obviously get the legal pack dissected by a solicitor before proceeding. TIA