Lease Extension Costs & Rules.

strawberries1

I've just used this extension calculator and it's estimated £15k to extend a leasehold property being sold for £270k 75yr remaining and GR at £30 or if with lease extended (by negotiation) £300k 125yrs GR @ £150.

How long does it usually take to extend statutorily?

How much are other costs ie solicitors, surveyours etc likely to come to?

I hope to agree with the seller to serve and assign s.42 notice.

Tom99

[FONT=Verdana, sans-serif]You can get your solicitor to draw up the Sect 42 notice if you like for the seller to serve after exchange. That way you can quote a price you have decided upon.[/FONT]
[FONT=Verdana, sans-serif]Make sure you serve the notice to the right address do not assume the landlords address in the lease is still correct.[/FONT]

strawberries1

Tom99 wrote: »

[FONT=Verdana, sans-serif]You can get your solicitor to draw up the Sect 42 notice if you like for the seller to serve after exchange. That way you can quote a price you have decided upon.[/FONT]
[FONT=Verdana, sans-serif]Make sure you serve the notice to the right address do not assume the landlords address in the lease is still correct.[/FONT]

Thanks. I'll be discussing this with the solicotors I instruct.