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How much will my freehold cost
africadan
Posts: 8 Forumite
How do i do an inital calculation of my Freehold costs. There are 2 flats, I own one, the flats are presently worth
250000
and 300000
there is 68 years left on lease and we both pay 75£ per year ground rent.
So how do we work out the costs, The freeholder has asked us to make him an offer. I would like to do this without a surveyor, to reduce costs.
Thanks
250000
and 300000
there is 68 years left on lease and we both pay 75£ per year ground rent.
So how do we work out the costs, The freeholder has asked us to make him an offer. I would like to do this without a surveyor, to reduce costs.
Thanks
0
Comments
-
Trying to keep it simple...
0 -
I used a company in Croydon to give me a valuation for £75. They don't do a site visit but they do ask for your lease and a floorplan to go through.
I can't imagine your freeholder is a professsional if they are asking you to make an offer! I'd ant to know what my investment was worth before I sold it!
Don't forget on top of the actual freehold you have to pay for both your own and your freeholders' legal costs. You are also supposed to buy the freehold with the other flat. If the other leaseholder is not interested, they have to sign to say that they are not interested and the freeholder is not allowed to sell their share to you for any less than they offered it to your neighbour for, otherwise they have to offer it again.Everything that is supposed to be in heaven is already here on earth.
0 -
Also as the freeholder you will be liable for a few things like arranging property insurance. DO check with your solicitor first.
The managing agent will be able to advise the value of the lease.
I think that there is a fairly complex way that it has to be calculated."Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0
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