I was pleased to have an article published in the current edition of Landlord & Buy to Let Magazine on the subject of offer notices under the Landlord and Tenant Act 1987.
These often represent the chance to purchase your freehold collectively at a lower transactional cost and provided that the ‘price is right’ then these are often worth considering.
In order to accept and act collectively (as you need more than half of the flat owners to participate), you will need to move quickly as there are only 2 months to co-ordinate the initial response. If there are a large number of flats, then do not underestimate this challenge, although in practice we have experience of dealing with large-scale transactions (100 flats plus in a block) experience shows acting early is essential if you are to succeed.
To read the full article see:
http://www.joomag.com/magazine/landlord-buy-to-let-magazine/0540853001421676588?short