Informal Negotiations with Freeholder

[RTM_456]

Hi,

Another question for your collective wisdom.

My neighbour and I are buying our freehold. We have had a valuation carried out and its come in at a fairly reasonable sum. The surveyor suggested a figure to go with for serving notice in the hope that the landlord would increase it to what its more likely to be worth.

My question is, how best to go about an informal discussion? Is there an established format? I suspect the landlord will conjour up an inflated price and refuse to budge until formal notice is served, then only with the threat of LVT start to contemplate a more reasonable figure. But you never know until you try.... sadly we are at 79.5 years and if we delay too long before serving notice we will presumably attract further marriage value.

Thanks

RTM

[TomMerralls]

It's simple! - ask your freeholder if they will sell the freehold title to you and at what price? No established format. IF they do come back to you and IF they offer a price, it is likely to be inflated and you may then decide you want to serve a notice anyhow. Trying to negotiate with your freeholder is unlikely to bear any fruit, unless you are lucky enough to know that your freeholder needs the cash, in which case there may be room for some negotiation.

Tom