lease extention

magali

After waiting more than 3 weeks to have the survey and valuation result I am finaly at the stage of starting the searches by our solicitor.:j

The problem is that before we put the offer we agree that the lease of 65 years had to be extend before we sign the contracts, when I called our solicitor he informed me that he still didn't have any news from the seller's solicitor and that apparently nothing has been done!:eek:

He told me to wait to see the lease documents before starting the seaches, I contacted the EA and explain the problem, she told me that she will get in touch with the seller ASAP to find out what's happening.
On the other side our solicitor told me he will try again with the other solicitor.

If the seller start the lease extention process (the EA told us that they had almost all the documents because one day they started the lease extention then gave up) do you know how long it will take?
Or would it be better to make them sign a document saying that they will do it and then get on with the searches

alanobrien

Depends on the people involved.
If the freeholder and the leaseholder can agree a price and the solicitors extract their digit it can be done in a couple of weeks.

If they drag their heels then it can take longer, one i know of took 6 months :eek:

Ben_Baileys

we're in a similar position. been about 3 weeks since we asked the vendor to extend the leasehold. not heard much from them since then but will let you know when things move on.

while i feel for your situation magali, it's so good to know there are other people out there suffering exactly the same situation as us!

hope everything starts to move quickly and smoothly.