Shocking Offer...

Pal

At the risk of pointing out the obvious, the freehold is worth as much as the two leaseholders are willing to pay for it, or as much as the landlord could get for selling it on to a third party. If she wants £8k for it but you believe that is too high, then you don't have to buy it.

A surveyor will only give a guide price, it is up to the individuals to agree the actual price paid, and for that the freeholder has to be willing to sell. If the freeholder does not want to sell then you can't force her to do so.

You need to treat this as a friendly negotiation rather than a confrontation.

Yonk - I am not sure I understand the reason for going to court? What legal dispute would they be attempting to resolve?

yonk

PAL : I agree about the negotiation and you are right, property is only worth what a willing buyer will pay a willing seller. I am a nice reasonable person who would always advocate the simple route of discussion.


However, this is a special case and there are statutory rights attached to the buying of leaseholds allowing the leaseholder to force the sale - but they are complicated and are usually handled by specialist surveyors/lawyers. See previous advice on where to go for help - https://www.lease-advice.org

I think more precisely I would indicate to the landlord that I would be willing to pursue the legal route but note my comments about costs.

zain

Thanks for the advice - we ( + neighbour) have just sent a letter asking her to reconsider her offer. We have said that we are willing to go through the tribunal but would rather not.

Also i have never employed a solicitor for something like this and it is a major cost if we force her to sell.

Robert_Sterling_3

In theory the more you have to pay the better since you get half of the marriage price. i.e. You gain as much as the landlord gains from the deal.

zain

Sorry I don't understand what you mean. Do you mean i gain in the long term?
Can you explain further please