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What offer do I put in?!
Caracola
Posts: 7 Forumite
Hi all!
I've seen a flat I really like and am thinking about putting in an offer. It's a one bed in West Kensington at an asking price of £275k and it's been on the market for 'a few weeks'. It needs a little work done to it, but it's mostly cosmetic. I wanted to put in an offer at £250k until I found out that the lease only has 84 years left on it. Should I be offering less?
I was planning on living there for about 5 years, which would bring the lease to under 80 years when the time came for me to sell it and I read somewhere that anything under 80 years will require a lease extension.
Do any of you know how much a lease extension could cost? And what kind of offer would you put in?
One other thing that I should add is that I am a cash buyer, although I need to pay back the interest my parents would have made if they had left the money in their savings account. So although I'm in a really good position, my monthly repayments are going to be quite high, so I need to keep the price as low as possible!
Thanks in advance for any advice.
Caracola
I've seen a flat I really like and am thinking about putting in an offer. It's a one bed in West Kensington at an asking price of £275k and it's been on the market for 'a few weeks'. It needs a little work done to it, but it's mostly cosmetic. I wanted to put in an offer at £250k until I found out that the lease only has 84 years left on it. Should I be offering less?
I was planning on living there for about 5 years, which would bring the lease to under 80 years when the time came for me to sell it and I read somewhere that anything under 80 years will require a lease extension.
Do any of you know how much a lease extension could cost? And what kind of offer would you put in?
One other thing that I should add is that I am a cash buyer, although I need to pay back the interest my parents would have made if they had left the money in their savings account. So although I'm in a really good position, my monthly repayments are going to be quite high, so I need to keep the price as low as possible!
Thanks in advance for any advice.
Caracola
0
Comments
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Please, please, please don't think I'm being rude... but there are at least 10 threads on the last two pages asking exactly the same question.
No one on here can tell you the answer anyway. Read all the info on here (plus house price thread), google "property prices" and then make a decision. Me saying offer x or y is not going to help you. You are not buying from me!Keep the right company because life's a limited business.0 -
offer 150K0
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