Asking price

RHemmings

20122013 said:

Re: lease extension : I have found out I am anticipating delays ahead. Management company has suggested to try and do an informal agreement - as I have access to their offer they had made a few years ago, the price for extend back to 125 years will be 7% higher than the 'caculator' which I will accept (to avoid delays) but they have also added terms of increasing ground rent and landlord fees, I wonder whether this will put buyers off?

It sounds like a bad deal to me. Others may disagree. Increasing ground rent can be a problem concerning mortgages as if it's (e.g.) a doubling clause, that can make it more difficult to get a mortgage. I don't know how the new law, when it comes into effect, will affect this. 

20122013

Useful to have your comment, as the agent (I WAS thinking of using) said that the new reform will have it capped, I thought great and not sure now.

Another agent had said that, if I use  a surveyor / valuer to do the costings for the extension , they will not use the 'caculator' instead take measurements etc. (I am not sure how will that work if they are remote survey.  ie maybe I can do an informal agreement and do negitation via mgt company myself? as I have sometime as will get the extension offer and apply once I have a buyer's offer

With the independent agent, I had spoken with the owner (as agent was off) and agreed the asking price can  be higher. Since then I have noticed some (minor?) things, eg when agent returned we agreed a lower 'fixed' fee and  they will send a blank one, but the one received says:  fee saying 'min lower fee'

later that day then the independent agent had alerted me a similar property had listed and I can increase my asking price further or match it! (in my head I have got a minimum price I need)  

I then had another chain agent to value, suggested to market it 1% higher than the other property and do not extend lease until I have found a buyer. This chain is more modern and 'sounded' like they have more buyers but all relatives as they have a lot of chains and more stocks compare to the independent chain. Chain does not know I had ask independent to value, but chain was being negative about the Chain. I am undecided of who to instruct.

as these values will not be showing buyers around..  the chain has a lot less stock and not direct competitiion to my property. Also, was defensive about some things I did not agree with, and pointed out it was my error (I do not have a problem with that, my concern is if independent get personal maybe not good to use them) they were my choice as they are independent