We want to buy the freehold of our building. Are there costs to pay, other than the price of the freehold?
You will be responsible for your landlord’s reasonable costs. This is limited to legal and valuation costs, for example the landlord’s valuation, legal costs of transferring the freehold and checking your right to buy the freehold. You do not have to pay the landlord’s costs in connection with any LVT proceedings. If you are privately negotiating to buy the freehold outside the 1993 Act there are no rules regarding costs. It is a matter of agreement between the parties.
