Collective Enfranchisement - Valuation
An outline of the valuation principles to determine the price for acquiring the freehold of a building containing flats under the Leasehold Reform Housing and Urban Development Act 1993.
If a binding contract has not been entered into within two months of the agreement or Tribunal determination, either party can make an application to the County Court for an order to deal with the conclusion of the freehold purchase. This application must be made within two months of the initial two months period expiring.
Buying the freehold can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
More information you might find useful:
- Collective Enfranchisement – Getting Started
- More Frequently Asked Questions on Buying the Freehold of Flats
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Contact LEASE to have your enquiry dealt with by one of our experienced advisers