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Valuation for leasehold house
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Har1ech
Posts: 8 Forumite
I've recently had a valuation carried out on my lease hold house that has 97 years left on the lease. The report refers to the freehold valuation. Should this be valued differently? I've contacted the surveyor for confirmation but they are slow to respond...
Many thanks and sorry if this question has been asked before, I couldn't find it anywhere.
Many thanks and sorry if this question has been asked before, I couldn't find it anywhere.
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Comments
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Purpose of the Valuation?
If it was done for a buyer because you are selling, then don't rock the boat - the freehold valuation will be the same as or higher than a leasehold would be, so will encourage your buyer......
If it's for some other reason.....??0 -
Hi, many thanks for the reply.
It's so I can put it on the market. Basically the house is shared ownership. The housing association needs a RICS valuation before this can happen. I'm worried that if I accept the valuation and turns out not to be correct because it assumes the property is freehold that I will have to pay for another valuation.0 -
If it has a staircasing clause then in most circumstances the freehold is transferrred over anyway on buying the remainder.0
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Again, many thanks. Does this also apply when there is a restriction in place that prevents from stair casing above 80%?0
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Again, many thanks. Does this also apply when there is a restriction in place that prevents from stair casing above 80%?
Imagine not. Shared Ownership places normally dont allow you to buy the freehold when you own part share and you dont have a right to buy it after two years either like others.0 -
So I should get the surveyor to change the valuation to not assume freehold value?0
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