Surprised by low offer from leaseholder?

by Property118.com News Team

9:37 AM, 16th November 2020
About 3 weeks ago

Surprised by low offer from leaseholder?

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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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Jim Littlehampton

14:56 PM, 19th November 2020
About 2 weeks 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/

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