Section 61 and my Landlords rights for an order of possesion

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    #16
    Originally posted by sgclacy View Post
    Realistically, a commercial minded organization would, before incurring significant legal costs making an application, have nothing to lose by approaching the lessee and being prepared to offer slightly than the market price.
    I agree completely.

    But...
    If that same commercially minded organisation already knew that one of the leaseholders they needed to move was determined to stay put, it may instead make commercial sense for them to one offer the market price for all flats, and then put the additional thousand or two (or whatever) towards the the legal fees that they will have to incur anyway because of that one leaseholder.

    Usually I would expect most leaseholders in this situation to be willing to sell at just above market price, knowing that a court would be likely to grant the request - but if I was the freeholder I wouldn't pay much over the market price if I considered it likely that I would still need to go to court to get one or more leaseholders out.

    It all depends on what the lowest total price would be expected to be.

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      #17
      Based upon the activity of the freeholder buying 8 of the other 12 flats, I would image that the OP will not have to wait 55 years before he gets approached by the freeholder to see if a deal can be struck - obviously he can reject such overtures in that period -

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        #18
        Thank you to all that have commented

        Comment

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