Buying the Freehold
As a leaseholder, you may have the right to buy all or part of the freehold to your home. You may also have to right to stop the landlord from selling the freehold to someone else.
The Leasehold Reform, Housing and Urban Development Act 1993 has made it considerably easier for residential lease owners to qualify for leasehold enfranchisement. The rules about buying the freehold differ depending on whether your home is a house or a flat. The legal process of buying the freehold (known as enfranchisement) is usually more complicated for flat owners.
Rumball Sedgwick is expertly qualified to give you valuation advice and to act on your behalf during this application.
To aid the preparation and serving of the initial notice and to assist in subsequent steps, you would be advised to appoint a valuer and a solicitor.
Our expert service during your leasehold enfranchisement process includes:-
- Providing ‘best and worst’ valuation advice to fully appraise tenants of the possible outcome of negotiations
- Advising on the amount of the offer to be made in the Initial Notice
- Responding to the landlord’s counter-notice
- Negotiation and settlement of the price
We are also able to advise you on:-
- Structural and repair condition, and implications for future maintenance costs and service charges
- Future management