Landlord has given notice to sell the freehold at auction

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    Landlord has given notice to sell the freehold at auction

    Hi, I was hoping for a little bit of advice or pointing in the right direction following an Offer Notice Section 5B for the sale of the lease at public auction in December from our landlord. I have one of the 12 leasehold flats in the building and currently let it out.

    Being able to gain the freehold seems like a good idea to me. What steps should I be taking to attempt to do this?

    Many thanks in advance.

    #2
    This allows for the collective purchase of the freehold or for the nomination of you as the nominated buyer, if you go down that route.

    Alternatively you may just want to outbid the other buyers.

    http://www.lease-advice.org/publicat...nt.asp?item=11
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

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      #3
      Originally posted by CDBF View Post
      Hi, I was hoping for a little bit of advice or pointing in the right direction following an Offer Notice Section 5B for the sale of the lease at public auction in December from our landlord. I have one of the 12 leasehold flats in the building and currently let it out.

      Being able to gain the freehold seems like a good idea to me. What steps should I be taking to attempt to do this?

      Many thanks in advance.
      The notice is served under the "Right of First Refusal" offer to leaseholders and price for the freehold title will be determined by the highest offer in the auction. You can download the free guide on RFR from www.lease-advice.org .

      Basically the leaseholders must make contact with each other and get organised so that a majority of leaseholders ( 50% + ) can form a purchase group ( within 2 months ) to buy the freehold title at the price of highest bidder in the auction. So watch the deadline dates for replying to the freeholder or all of you may lose the right to buy.

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