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If you own a freehold, subject to residential leases, and wish to sell it then you have to offer it first to the tenants. The rules are very strict and failure to comply is a criminal offence.
If you are a leaseholder and you receive a notice that the landlord wishes to sell then you are able to purchase the freehold. You need 50% of the leaseholders in order to enter into negotiation. Your response must be by the deadline stated in the Right of First Refusal Notice otherwise the freeholder is free to sell it to someone else.
Due to the unique nature of the Right of First Refusal, whether you are a freeholder looking to sell or a leaseholder who has received a notice, we would advise seeking legal advice so you can be sure of all your options and proceed to achieve the desired result efficiently.
It is important to make sure our client’s requirements are understood, that communication is easy and clear and that we are flexible in organising how we work to meet your needs. To us, being friendly and supportive is as important as being accurate and reliable. Our commitment to quality client service is why we are one of the leading firms in North Somerset and continue to be trusted legal advisors for local and national clients.