RFR Right of First Refusal Auction

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #31
    Originally posted by flyingfreehold View Post
    If the section 5b notice is invalid the seller may pull the sale to avoid the risk of a prosecution; the auctioneer will generally refuse to auction if it is shown to them that the notices is void
    Technically the prosecution would be for a criminal offence - the prosecution would be brought by the Local Authority - although I suspect as funds are very limited, and it's not a flagrant attempt to ignore the section 5 laws and as far as I am aware there have been no prosecutions under the Act it would be highly unlikely the freeholder would be prosecuted - the Act gives a remedy to assist the injured party, which rather makes the time and cost of a criminal prosecution very unlikely - which is what you may be proposing if the sale goes ahead

    So as flying freehold states the auctioneer would unless supported by a legal opinion of some standing, withdraw the property from the auction

    Comment


      #32
      Quick update and a caution about RFR which is a very cumbersome procedure. We managed to serve a robust 5b with signatures from all qualifying tenants which landed on the desk of the serving solicitor with four days to spare.

      We wasted a good three to four weeks speaking to the houses who still believe they have an RFR (which they don't), an 'investor' from this forum whose offer quickly changed from a win-win to a win-lose for us. But more importantly, we faffed about chasing qualifying tenants for almost two months, who for a plethora of ridiculous reasons avoided communicating with us, only to come alive, collectively offering double the auction reserve/guide price with 7 days left to submit the section 6 acceptance notice.

      My recommendation is, forget the circulars, emails, texts, phone calls. Instead, bang on qualifying tenant's doors whether they live on or off-site and clearly and enthusiastically explain your plans, but more importantly, keep it simple so you get your most wanted response. And do it early within the two-month period to avoid unnecessary stress.

      Having saved £2k on legal costs so far we're now negotiating via a solicitor and have various contingencies mapped out should it reach auction and beyond.

      Thanks all for your input.

      Comment


        #33
        Further update. Today we have received notice from the serving solicitor that their 5B was invalid and they will be severing the flats from the houses. Amount spent £13.50 on postage. Amount saved £2k plus. Result!

        Comment


          #34
          Good result . Well done .

          Comment


            #35
            Does anyone know where I can obtain an 8B Notice? Thanks.

            Comment


              #36
              Originally posted by Centurino View Post
              Does anyone know where I can obtain an 8B Notice? Thanks.
              What is an 8B Notice ?

              Comment

              Latest Activity

              Collapse

              • Freeholder failure to maintain
                by Catastrophiser2020
                What to do about a freeholder that doesn't maintain property?
                Unfortunately right to manage is not an option
                There is damage to my property due to FH failure to repair...
                22-01-2022, 20:36 PM
              • New Government proposals re leasehold reform
                by perigee
                I see that there are proposals to simplify the extension/enfranchisement procedures and reduce the costs for lessees, including abolishing marriage values. I appreciate that these are early days but is there any guidance from professionals acting for landlords - as distinct from lessees - on these...
                12-01-2022, 17:53 PM
              • Reply to New Government proposals re leasehold reform
                by sgclacy
                As I said earlier if a property is burdened with a ground rent of £300 - £500 per annum and it rises by the RPI or doubles every 20//25 or 33 years how is that the stuff of nightmares ?

                We are regarded in a world stage to have a very advanced legal system and as seen as a safe place to...
                22-01-2022, 20:15 PM
              • Reply to New Government proposals re leasehold reform
                by Lawcruncher
                A lease is the grant of an estate in land. The estate granted is a "term of years", a label which describes what is in the tin. Virtually all leases have conditions attached or implied, but the conditions are not essential. A lease may for convenience be regarded as the combined grant of a...
                22-01-2022, 19:51 PM
              • Who can view CCTV?
                by Luverlyjuberly
                I'm having a problem with someone spitting in the communal areas of our block of flats. The person is the boyfriend of a tenant. She has already been spoken to about the incidents but I think it likely that he denied it was him or claimed it was a accident (as he had a nasty cold when the spitting...
                22-01-2022, 19:30 PM
              • Section 61 and my Landlords rights for an order of possesion
                by andyg1
                Hi All

                I wonder if anyone can set my mind to rest, i am the leaseholder of the flat in question . In 2008 i employed a firm of solicitors to extend my Lease . It was a 99 year lease granted in 1978 and it was eventually extended for an additional 90 years . During negotiations...
                20-01-2022, 16:35 PM
              • Reply to Section 61 and my Landlords rights for an order of possesion
                by sgclacy
                In 55 years time, you may be faced with the possibility that the freehold is able to buy your flat at its market value.

                You undertook that exercise in 2008 so if you were just 21 then this "problem" would concern you when you are 90 - if freeholder can satisfy the court about...
                22-01-2022, 15:26 PM
              • Reply to New Government proposals re leasehold reform
                by sgclacy
                It is the financial burden that the ground rent imposes on the property that needs to be valued correctly.

                The consumer credit act sought to value one financial product with another, by having the APR quoted to assist the purchaser make an informed choice. My proposal would be that the...
                22-01-2022, 15:09 PM
              • Neighbour’s automatic garden watering system
                by Joubert
                I am the director of a freehold company which has a number of flats in a purpose built mansion block.

                One of the lower ground flats has a serious damp issue which has been addressed several times over the years at considerable cost by the building. The damp is coming through the floor...
                18-01-2022, 10:03 AM
              • Reply to Neighbour’s automatic garden watering system
                by Section20z
                Seriously ??? If it's really the neighbours water then just dig a couple of meter deep trench along the boundary and put a French drain it.
                £80k ? Someone's having a laugh with you...
                22-01-2022, 14:03 PM
              Working...
              X