Surprised by low offer from leaseholder?
I have a flat where I am a freeholder. There are only two flats in the building,
A couple of months ago, I had been contacted by the leaseholder to extend the lease as there is only 68 years left. I said to them that we would need to get a surveyor to value the lease.
To my surprise, I was contacted by a company who specialise in lease valuations who was representing the leaseholder with an offer. The offer seemed low at 6K
I then went onto the various leaseholder calculators and the range seems to be around 9-15K, 12-16K. One calculator gave 12K low, 14k Medium and 15K High
What the protocols to follow. Should I pay for a Surveyor to carry out the lease valuation? They normally charge around £500.
Many thanks
Jim
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Member Since December 2019 - Comments: 29
2:56 PM, 19th November 2020, About 5 years ago
Thanks for the replies. I should have mentioned the buyer is selling the property so guess timing becomes more critical
How correct is the below calculator as its coming out with a value of 15K
https://www.lease-advice.org/calculator/