Great. Our freeholder has decided to auction the freehold. From what I can make out from the solicitors letter it circumvents the right of first refusal thing as we have an equal opportunity to bid on it compared to everyone else.
Other flat owner doesn't want to / have the cash to buy the freehold. We're thinking of selling. Can't imagine the freehold being auctioned in a couple of months is a good look for prospective buyers :/
According to the auction bit here:
You get the right to buy after the auction for the same price as the winning bidder.
Thanks, that's good to know. So now do we wait and see what it gets at auction, or offer the freeholder some cash now...
We might not own it in four months, but this is going to hang over any potential sale.
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