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Why should I take action?

We’ve highlighted many of the benefits of taking advantage of a Section 5 offer – but it is important to realise just what an excellent opportunity this presents.

So, why should you acquire your freehold by the Right of First Refusal?

  • The cost of the freehold could be significantly less – in our experience, up to 30-40% cheaper!
  • If the majority of leaseholders don’t respond to the Notice by the given deadline, the freeholder can sell it to someone else, and this may be a professional ground rent investor! A Section 5A Notice often means your freeholder already has a professional ground rent investor lined up to buy the freehold so if you are successful, you prevent this from happening.
  • No negotiations – this is a ‘take it or leave it’ offer!
  • You won’t necessarily need to pay your freeholder’s legal and valuation fees!
  • You finally own the freehold – and control the costs of maintaining the building!
  • Your flat will increase in value and be more attractive to potential purchasers as it can be sold with a share of freehold!

The reasons why you should seriously consider taking action!

Our videos have been designed to help you gain an overview and better understanding of the Right of First Refusal but it is important to remember that they are for information only.
It is vital that you seek valuation and legal advice for your specific circumstances.

View our video guides to understanding Section 5 Notices