WHAT IS THE PROCESS FOR PURCHASING THE FREEHOLD?
The Leaseholders form a resident’s flat management company and a solicitor serves notice on the freeholder, making a monetary offer for the freehold. The freeholder either accepts or serves a counter-notice giving his asking price. The two parties then negotiate a price. If this fails then either side can apply to the Leasehold Valuation Tribunal who will determine a price.For smaller blocks of leasehold properties it may not be necessary to obtain the freehold interest in this way.To discuss this further or for any other related enquiries please contact Katherine Lawrence or telephone 0208 290 7983.
