Ok
I went to see the flat this afternoon.
The Flat has been empty over a year, the lady who owned it died and it’s been on the market for a year because 3 people have come close to buying it and pulled out wasting time.
There is planned maintanence of the flat, £20000 in total, my share would be £5000. The service charge is as and when required rather the monthly, which suits me because I’ll spend this £5000 and then I won’t be keeping it more then three years so shouldn’t have anymore costs after this.
The road is a quite road close to the nearest train station.
The house wa very quite but I’ll check it out this evening for extra noise.
The whole flat would have to be stripped and redecorated, but it is quite a nice size. Also I’d want to fit gas central heating.
There are two things that worry me. The guy who owns the freehold wants owner tenants and no buy to let’s. Also it only has 73 years on the lease left. There is talk of him selling us the lease.
The flat is on the market for £57k
I have offered £41.5k
Done up nicely it will be on the market for £70k
I have the money in the bank so there would be no mortgage.