Freehold Purchase Made Easy
Freehold Purchase Made Easy
Freehold Purchase Made Easy
The first and perhaps the most important aspect of freehold purchase (often referred to as enfranchisement) and how you can make it a smooth transaction is to have a paper trail for all aspects of the enfranchisement process. This means that you need to ensure that all the different stages of the enfranchisement process, right up to the point where the freehold purchase is brought about, are documented. This merely makes sure that everything can be demonstrated to have been agreed. Not documenting agreements and decisions can be dangerous, when things get stressful and tempers fray disagreements arise and not having things documented means it is harder to resolve problems. If they are documented then there is evidence as to what was actually agreed!It is also important to appoint both a specialist solicitor and surveyor ie professionals who really know all about freehold purchase. The more specialist knowledge you have on side the simpler the enfranchisement process will become. This cannot be over emphasised. Although the temptation is to take out the cheapest legal advice this is not always the most sensible decision, think of the future and what problems you may incur and it could turn out to cost you dearly. So only appoint experts in their field.Ensure that as leaseholders, you appoint a representative from the leaseholders to deal with the solicitors and the surveyor as well as the solicitors from the freeholder. This representative must (obviously) be well chosen because they need to have all the skills and diplomacy to manage the situation. If you are finding that strong personalities amongst the leaseholders is causing a problem in choosing the representative, then employ a project manager instead. This is not a cheap option, but the role of liaison is important and if the wrong person is appointed as representative, for example, someone who is bombastic or lacks 'people skills' and has just bullied their way into the role, then the whole enfranchisement process could be seriously undermined.Finally it is important that all parties are aware of the fact that they should be working together to ensure that the process of enfranchisement can be brought about. This is not about points scoring, or settling old disputes: this is simply a process to bring about freehold purchase!
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