- 12 flat owners instructed myleasehold to undertake a valuation for a collective enfranchisement.
- myleasehold’s advice was the flat owners approach the freeholder to enquire on an informal.
- The freeholder was receptive in selling the freehold and the price negotiated by myleasehold was £110,000, which was £40,000 less than the premium the leaseholders would have expected to pay had they served a formal notice of claim.
- As a result the leaseholders also saved on the legal and valuation fees that would have been incurred if they had served a formal notice.
This case study illustrates the potential benefits of an informal approach to a landlord and the importance of seeking professional valuation advice.