Buying a freehold flat
I am interested in buying a ground floor flat in a converted house, but have just discovered that it is freehold and all the other flats are too. They do not have a share in the freehold, they are freehold. I understand that each flat has to do its own repairs, but what repercussions does this have? Will it affect the re-sale of the property (as I gather mortgages are hard to obtain (luckily I don't need one). What would happen if one of the flats got into a terrible state that affected my property? Would I have any come back? Should I avoid the plague/proceed with caution/relax about it all and buy it?
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