Buy freehold informally - appropriate steps

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    Buy freehold informally - appropriate steps

    I own a leasehold flat, one of only 2 flats in a conversion. Myself and other leaseholder want to purchase freehold as lease only 65 years remaining. The freehold is owned jointly by a husband and wife who are divorced but have both agreed in writing that they are willing to sell the freehold. We have never had any other communication from them and they have never demanded ground rent (for 8 years). We maintain and insure the property ourselves.
    What is the best way to purchase the freehold informally before we get solicitors involved? Do we write with a proposed purchase price - if so, should there be anything in particular I should include in the letter? We haven't had a valuation done and are hoping to avoid this to keep price down.
    Any positive advice welcomed, thank you.

    #2
    if there is no loan on the freehold and you agree a price between you, it is a simple handshake, and exchange a bankers draft and their signatures on a TR1, around a pot of tea

    What is more important though is how yo set up the ownership and future running of the freehold and your individual leases.

    http://www.landlordzone.co.uk/forums...9t-Tell-You-P1
    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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