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Freehold buy - Ball Park
Disjoint
Posts: 181 Forumite
Hi guys,
I have absolutely NO idea what the cost of buying a freehold would be like. I have a property I manage that has 57 years left on the lease and no surveyor wants to give me a ball park as to how much it would cost to renew the lease (they want me to pay for the survey which I get, but I can't pay for the survey until the owner agrees to do so, and for this he needs to have some sort of idea of how much it will cost total before raking in some fees)...
The house is valued at approximately £2m if it were put on the market and owned the freehold. Today it has 57 years left.
Are we talking £200k to buy the freehold out, or are we talking £500k or more?
I know all properties are different etc... I just want to have a ball park even at +-200k
If someone has some examples that would be really really helpful.
Thank you!
I have absolutely NO idea what the cost of buying a freehold would be like. I have a property I manage that has 57 years left on the lease and no surveyor wants to give me a ball park as to how much it would cost to renew the lease (they want me to pay for the survey which I get, but I can't pay for the survey until the owner agrees to do so, and for this he needs to have some sort of idea of how much it will cost total before raking in some fees)...
The house is valued at approximately £2m if it were put on the market and owned the freehold. Today it has 57 years left.
Are we talking £200k to buy the freehold out, or are we talking £500k or more?
I know all properties are different etc... I just want to have a ball park even at +-200k
If someone has some examples that would be really really helpful.
Thank you!
0
Comments
-
ETA: Sorry, for some reason I read 'freehold purchase' as .leasehold extension'.
Removed most of what I said, but lease-advice.org is a great place to look in general; it's a government-funded advice service. You can ring them to discuss your circumstances.0 -
This website has a freehold purchase price calculator, which you could use as a starting point:
https://www.freeholdcalculator.com/freehold_choose.php0 -
This website has a freehold purchase price calculator, which you could use as a starting point:
https://www.freeholdcalculator.com/freehold_choose.php
THANK YOU!
Essentially to count 200k to 400k for the extension, at least I have a value0
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