Freehold Purchase

Purchasing the freehold of a property makes you the legal owner of the building itself and the land that it stands on, and you will be registered as the freeholder in the land registry. We can assist in the various complexities associated with freehold purchases.

At Alison Stone Surveyors we provide an expert service in assisting you with lease extensions, enfranchisement, and freehold purchase agreements. Based in Essex, Alison Stone Surveyors are leading specialists with over 19 years of experience, guaranteeing your enquiries and potential business is in experienced hands. One of the key areas of specialism is our work within freehold purchase and extensions.

Collective Enfranchisement Freehold Purchase

To purchase the freehold of a property under the Leasehold Reform Housing and Urban Development Act 1993, as amended by the Commonhold and Leasehold Reform Act 2002, 50% or more of the qualifying tenants must participate in order to force the freeholder to sell. Therefore, if there are only two tenants both must participate or if there are five then at least three and so on. It is possible for less than 50% to purchase the freehold but this would need to be with the freeholder’s agreement.

The freeholder must be compensated for their loss, which may include undemised areas and/or development value. So it is important that the valuation is carried out by an experienced valuer to ensure the correct advice is given and the appropriate premium paid. An important point to take into consideration is that the Act also provides for the freeholder's reasonable and appropriate costs to be paid.

A professional valuation is critical to ensure that tenants do not waste their time and money.