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Costs of deed of variation - advice?
Babooshki
Posts: 43 Forumite
Hi All,
Our buyer's solicitor is insisting on the above to rectify what she has termed a 'defective lease' before she is willing to recommend the sale to our buyer and his lender. We have finally made contact with our very elusive freeholder and he wants £1500 plus solicitor's costs to do this. Is this reasonable please?
Our own solicitor was of the view that costs could be kept to a couple of hundred quid. We are not surprised that the freeholder has responded with this request for money as he also demanded a much inflated price to do a lease extension last year, which we eventually managed to get reduced by going to LVT, although it took more than a year to complete the process :mad:. He is being his usual greedy opportunistic self, nothing new there.
Can he just pick a random amount that he wants us to pay? Or is there an acceptable limit? Is going to another LVT over the deed variation the only way to reduce the cost? Any advice and experience of deed variation would be greatly appreciated. Many thanks.
Our buyer's solicitor is insisting on the above to rectify what she has termed a 'defective lease' before she is willing to recommend the sale to our buyer and his lender. We have finally made contact with our very elusive freeholder and he wants £1500 plus solicitor's costs to do this. Is this reasonable please?
Our own solicitor was of the view that costs could be kept to a couple of hundred quid. We are not surprised that the freeholder has responded with this request for money as he also demanded a much inflated price to do a lease extension last year, which we eventually managed to get reduced by going to LVT, although it took more than a year to complete the process :mad:. He is being his usual greedy opportunistic self, nothing new there.
Can he just pick a random amount that he wants us to pay? Or is there an acceptable limit? Is going to another LVT over the deed variation the only way to reduce the cost? Any advice and experience of deed variation would be greatly appreciated. Many thanks.
0
Comments
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What is the defect in the lease that they have been asked to change?0
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Hi, the buyer's solicitor has a major bee in her bonnet about the fact the original lease does not specifically mention the fact we have a small corridor & stairs leading up to the main part of our (first-floor) flat and neither does it mention the back wooden stairs which lead down to the own section of [shared] garden.
N.B. this despite Land Registry and our previous solicitor who we bought through confirming there is no real issue here as the lease specifically DOES state it is a 'self-contained maisonette' with own front door. Hence, why we really are very reluctant to have to pay a further 1.5k to our freeholder when it is not strictly necessary.0 -
My vendors (two purchases ago in 2011) paid around £1k, plus the freeholder's legal costs for a deed of variation (or rectification, can't remember).
Unfortunately, what you've been quoted is probably about the norm...
Jx2024 wins: *must start comping again!*0 -
Hi there,
I was also quoted £1440 for the freeholders (solicitors fees) on my flat for deed of variation (if needed, which I hope won't be).0
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