Hi,
Hoping for some experience or guidance!
I owned a flat in a period house conversion of 2 flats. We agreed to buy the freehold of the house with the second flat's owner. At the last minute the other flat owner pulled out and we ended up buying it outright ourselves. We have since sold our flat with a share of freehold, and remain as a share of freeholder for the other flat.
I would really like to release my equity and ideally responsibilities given I no longer live there. I believe I need to offer it to the flat owner who pulled out (Right of Refusal). Am I able to offer it to the other flat owner at the same time? They have expressed an interest in buying it with a view to long term reconverting the house.
Do I have any other options? It is a short lease (35 years) on the flat that withdrew so is worth a fair whack and I want to know my options!
Any help if greatly appreciated!
Hoping for some experience or guidance!
I owned a flat in a period house conversion of 2 flats. We agreed to buy the freehold of the house with the second flat's owner. At the last minute the other flat owner pulled out and we ended up buying it outright ourselves. We have since sold our flat with a share of freehold, and remain as a share of freeholder for the other flat.
I would really like to release my equity and ideally responsibilities given I no longer live there. I believe I need to offer it to the flat owner who pulled out (Right of Refusal). Am I able to offer it to the other flat owner at the same time? They have expressed an interest in buying it with a view to long term reconverting the house.
Do I have any other options? It is a short lease (35 years) on the flat that withdrew so is worth a fair whack and I want to know my options!
Any help if greatly appreciated!