Have I been scammed into Leasehold?

Andrew, it does seem that you have been taken advantage of but I very much doubt this can be resolved unless you take legal advice. Did you take advice before the auction? Did you attend the auction/listen online?

The auctioneer should have made it clear before opening the bidding for the Lot that it was a long lease. However, the legal pack was changed the day before and so I am afraid it may be a case of Buyer Beware.

You might try complaining to the Auction House but they only do what their clients ask so I suspect you won't get far.

Reply to the comment left by Gracie at 09/07/2021 - 12:25
it is located in wingate town near durham.

I havent sign the contracts that the solicitor sent me which was under the name of auction contract which was a lease agreement, which i didnt know nothing about.

the solicitor told me the proporty is still not it my name, so would really appriciate any advice how i could back up from this problem

Reply to the comment left by andrew samuel at 09/07/2021 - 12:33Andrew, at auction the contract is made when the hammer falls so signing is just to record the contract that has been made. The property won't be in your name until completion occurs and your solicitor registers it at the Land Registry.
Have you paid a deposit? As I said earlier you need legal advice.

Reply to the comment left by Ian Narbeth at 09/07/2021 - 12:44
there was a statement that it should be compleated in 14 days, so i had already sent them the full amount to them, though i didnt get the auction contract untill i had sent them the full amount..

which then i knew it was changed to a leasehold.

Hhmmm, the catalogue at https://www.taylorjamesauctions.co.uk/auction/tj-auction-venue-09-06-2021/
and entry at https://www.taylorjamesauctions.co.uk/property/7-coronation-road-wingate-county-durham-ts28-5jl/
carefully avoid mentioning the tenure!
You apparently paid £43000.
At a typical 6.5% yield rate as per https://myleasehold.co.uk/lease-extension-calculator/
that difference has knocked over a third off the value!
The calculator says "£14300 to £16,700" - and I make it almost £15,400.
I think you need a good lawyer!
But you could (I think you should) also get Trading Standards involved.

And - worse - the (currently anonymous) freeholder expects, under the terms of the newly-imposed lease, to be able to sting you for admin charges for permission to do loads of things that you normally wouldn't think twice about.

Andrew, the costs of fighting this are likely to be disproportionate. Put it in the next auction with a reserve at say £38,000 and accept a loss and learn a lesson. Sorry but you are on a hiding to nothing to take on the freeholder..

Just a thought, is it worth considering forcing the sale of the freehold?

Reply to the comment left by Ian Narbeth at 09/07/2021 - 13:06
thank you for your honesty,

i just feel someone could get tricked so i will tell the auction beforehand putting it as a leasehold so no one will fell like i do.

right know i am renewing the house than will try to sell it to someone which suits their needs

But again should i take legal actions or accept everything?

Reply to the comment left by andrew samuel at 09/07/2021 - 13:18Andrew,yes you need to sell it as a leasehold.

I would complain to the Auctioneers who sold to you but don't expect much. You could go on social media but be careful you are not defamatory. As I said earlier Buyer Beware. Auctions are risky places.

to sum up i think i will try to contact some solicitors, if there is anyone here that would like to help me, i would like to go ahaed, and pay if needed
It looks like I have been scammed big time.