Freehold company - Right of first refusal

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    #16
    When you know which auction company has been appointed, you should write to the auctioneer and ask for their catalogue / brochure to state "the leaseholders have notified their rights under RFR , and plan to exercise their rights".

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      #17
      Originally posted by Gordon999 View Post
      When you know which auction company has been appointed, you should write to the auctioneer and ask for their catalogue / brochure to state "the leaseholders have notified their rights under RFR , and plan to exercise their rights".
      Details of the auctioneer will be on the 5b notice. Whilst there is no harm in writing to the auctioneer, the auctioneer owes a duty to his client and is under no obligation whatsoever to respond to such a request . The auctioneer will almost certainly disclose the acceptance of the 5b notice in the special conditions . Don’t lose sight that the acceptance of the landlords section 5b offer must be made to the vendors solicitor in the time frame set out in the notice

      Responding correctly to a section 5b notice is actually tricky and you really should appoint a specialist solicitor to advise you. 50 % of you need to serve an acceptance notice and then there is a further period where you have to put forward the name of the nominee purchaser - countless times I have seen auction details where the vendor states that the lessees have failed to serve the form with the nominated purchaser and therefore not reserved their rights

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